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Greystone Provides $10.9 Million in HUD-Insured Financing for a Multifamily Property in Miami, .
GreystoneMarch 2, 2021 GMT
NEW YORK, March 02, 2021 (GLOBE NEWSWIRE) Greystone, a leading national commercial real estate finance company, has provided a $10.9 million HUD-insured loan to refinance a 174-unit multifamily property in Miami, Florida. The financing was originated by Eric Rosenstock, Managing Director in Greystone’s New York office, on behalf of Vizcaya Affordable Corp.
The $10,915,700 HUD-insured Section 223(f) financing carries a 35-year term and 40-year amortization, along with a low, fixed interest rate. Constructed in 1997, Vizcaya Villas Apartments consists of two, four-story, elevator buildings with one-, two-, three- and four-bedroom units. Amenities include a community room, picnic area and on-site laundry facilities. Located near the intersection of the Dolphin a
Greystone Secures $68M for Maryland Property
The loan for the suburban community included funds from Fannie Mae’s Green Financing suite. Feb192021
Regency Pointe.
Greystone has arranged two loans totaling $68 million on behalf of Quantum Equities for Regency Pointe, a 595-unit multifamily property in Prince Georges County, Md. The first, $65.9 loan was part of Fannie Mae’s Green Financing solutions for multifamily properties, while the second, for $2.1 million, was a mezzanine loan. Both loans carry a 12-year term and 30-year amortization.
The financing served for the acquisition along with ongoing renovations at the property. According to Yardi Matrix data, Quantum acquired the asset from Turner Impact Capital at the beginning of the year for $80 million. The asset last traded in 2015, for $56 million.