Greystone, a leading national commercial real estate finance company, has provided a $20,301,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) Green Rewards loan to refinance an 87-unit multifamily property in North Ogden, Utah. The financing was originated by Lorie Hanson, Managing Director at Greystone, with Johnny Clawson from The Clawson Group, Inc. acting as correspondent.

Constructed in 2020, Patriot Pointe Apartments in Weber County is a townhome community with one-, two- and two-bedroom units. The $20,301,000 non-recourse, fixed-rate financing carries a 10-year term and 30-year amortization, with full-term interest-only payments. The property achieved a Fannie Mae Green Globes certification for its energy upgrades. In addition to refinancing, loan proceeds enable the borrower to monetize a portion of the equity in the property.

“At Greystone, our number one priority is to secure the right financing for the multifamily properties in our clients’ portfolios in every economic environment,” said Ms. Hanson. “Our clients know that we will leverage our deep multifamily expertise and deliver an exceptional experience on each transaction.”

“We go to Greystone because they do outstanding work – we trust their insights and experience as a leader in multifamily finance,” said Mr. John Hansen and Mr. Ken Crockett, principals of the borrower. “We bring our Greystone team as our partner on every transaction because their financing capabilities and quality of service exceed our expectations every time.”

Greystone, a leading national commercial real estate finance company, has provided $15,656,000 in Freddie Mac Optigo® financing to acquire a 208-unit multifamily property in Indianapolis, Indiana. The financing was originated by Miryam Reinitz-Kops, Vice President in Greystone’s New York office. George Tikijian of Cushman & Wakefield acted as correspondent on the transaction.

Constructed in 1989, Trails at Lakeside in Marion County is a garden-style apartment community consisting of six buildings that offer one-, two- and three-bedroom units. The $15,656,000 non-recourse, fixed-rate Freddie Mac loan carries a 12-year term and 30-year amortization, with three years of interest-only payments. In addition to the acquisition, loan proceeds enable the borrower to make improvements to the property.

Capodagli Property Company, led by George Capodagli, President, has recently initiated a new mandate to expand its footprint beyond New Jersey, where the company currently owns and operates a few thousand units of self-built multifamily. “Indianapolis is an ideal market for our growth plans and we are looking forward to building a strong presence there,” said Jim Feisel, Vice President at Capodagli Property Company, who is heading up this expansion initiative.  

“Clients trust Greystone because of our deep financing platform and unparalleled industry acumen – we pride ourselves in finding creative solutions for every transaction,” said Ms. Reinitz-Kops. “Our goal is to provide a superior service experience on every transaction so our clients can realize the goals they have for all of the properties in their portfolios.”

Greystone, a leading national commercial real estate finance company, has provided a $24,080,000 HUD 223(f) loan to refinance an 89-unit affordable housing property in Stamford, Connecticut. The loan was originated by Jon Morales, Senior Vice President at Greystone, on behalf of New Neighborhoods, Inc.

Located on Stillwater Avenue, Martin Luther King Apartments is a 100% Section 8 multifamily property. The HUD-insured financing is a 35-year loan at a low, fixed rate. As part of the financing, the owner obtained a 20-year HAP contract for the property, preserving affordability long-term. The 13-story high-rise building contains 22 one-bedroom units, 45 two-bedroom units, and 22 three-bedroom units with a community room and laundry facilities as resident amenities.

“Greystone understands the nuances of the affordable housing market, particularly Section 8 properties, and their mission aligns with ours as we continually look to invest in quality housing for core markets in the Northeast,” said Jamey Healy, President & CEO, New Neighborhoods, Inc.

“Greystone was diligent in their work to close this complex financing, and we are thrilled with the ability to reinvest back into the property to ensure its viability as a critical asset to the Stamford market,” added Jerome Floyd, Operations Director, New Neighborhoods, Inc.

“We are thrilled to work on this HUD loan for Jamey and his team and are delighted to get them the proceeds and terms they needed in order to set the property up for continued long-term success,” said Mr. Morales. “We strive to earn our client’s trust in each new transaction by coupling our deep lending platform and multifamily capabilities with exceptional service and care.”

Former Freddie Mac Executive Takes on More Active Role in Greystone’s Multifamily Origination Business 

Greystone, a leading national commercial real estate finance company, announced Rich Martinez has been promoted to Head of Production, Agency Lending, after joining the firm in 2022 as Executive Managing Director, Multifamily Sales & Production. In this new role, effective immediately, Mr. Martinez will lead all Agency loan origination efforts, particularly market-rate multifamily for Fannie Mae and Freddie Mac, for which Greystone is a top lender.

In his continued role as part of Greystone’s lending leadership team, Mr. Martinez will also focus on expanding Greystone’s institutional borrower network, recruiting and expansion geographically, and enhancing and optimizing the firm’s joint venture relationship with Cushman & Wakefield, which provides a comprehensive suite of advisory services to property investors nationwide.

Prior to joining Greystone, Mr. Martinez served as Senior Vice President of Production & Sales at Freddie Mac, where he worked for over 34 years in various roles. While there, he worked across a variety of asset classes and geographies and gained a holistic view of the national multifamily landscape.

“Rich has made a significant impact on Greystone’s lending business already, and I am so thrilled that he will be taking on a larger role in expanding and growing our platform and reach in the multifamily sector,” said Chip Hudson, head of Greystone’s Agency lending platform. “Rich’s experience, leadership, and deep industry knowledge make him uniquely qualified to lead our production efforts going forward.” 

“I am energized to continue driving growth at Greystone, particularly at a time when we are committed to making new opportunities in a challenging market,” added Mr. Martinez. “The team is highly motivated to help clients throughout the changing economic landscape, and we have the solutions to meet their needs.”

Greystone, a leading national commercial real estate finance company, has provided a $94,451,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan for the $131 million acquisition of a 586-unit multifamily property in Arlington Heights, Illinois. The financing was originated by Dan Sacks and Eric Rosenstock, Co-Managing Directors in Greystone’s New York office, on behalf of Bayshore Properties.

Constructed in 1973, Stonebridge Luxury Apartments in Arlington Heights is a garden-style apartment community consisting of six buildings that offer one- and two-bedroom units. The $94,451,000 non-recourse, fixed-rate Fannie Mae loan carries a 10-year term and amortization, with full-term interest-only payments and 9.5 years of yield maintenance. In addition to the acquisition, loan proceeds enable the borrower to make improvements to the property.

“We truly appreciate when clients repeatedly rely on Greystone and our deep resources for the multifamily properties in their portfolios,” said Dan Sacks. “We work tirelessly to earn our clients’ trust by leveraging our extensive financing platform to secure the right solutions and deliver an exceptional service experience on every transaction.”

“We keep coming back to Greystone because the team continues to outperform on every transaction with financing that addresses the particular needs of the properties in our portfolio,” said Mr. Nick Kozul, Chairman of Bayshore Properties, a repeat client of Greystone. “Greystone is a team with multifamily expertise that is simply unparalleled in this industry.”

Greystone Housing Impact Investors LP (the “Partnership”) (NYSE: GHI), which recently changed its name from America First Multifamily Investors, L.P., commemorated the initial trading of its beneficial unit certificates representing assigned limited partnership interests (“BUCs”) on December 5, 2022 on the New York Stock Exchange (“NYSE”) by ringing the opening bell on the floor of the NYSE Monday, December 12, 2022.

The Partnership, an affiliate of Greystone, actively invests in mortgage revenue bonds and governmental issuer loans that contribute to the creation of new affordable housing by providing construction and/or permanent financing for new and substantial rehabilitation multifamily and seniors housing projects.

Ken Rogozinski, CEO of the Partnership, commented, “It’s truly an honor to represent Greystone Housing Impact Investors and Greystone on this momentous occasion at the NYSE, one of the oldest and most respected institutions in the capital markets. We are celebrating the work we have done to create structures enabling the financing of affordable housing to date and are excited for the potential to do even more as we continue to solidify our affiliation with Greystone, a leading player in affordable housing.”

Greystone, the #1 provider of HUD-insured commercial loans by volume, is also a Top 10 provider of Fannie Mae and Freddie Mac affordable housing loans. Together with Greystone and its affiliates, the Partnership offers innovative structures to finance affordable housing development.

“Since joining the fold at Greystone in 2019, we have seen such an incredible impact from the Greystone Housing Impact Investors team in terms of resources, expertise, and a commitment to help alleviate the affordable housing crisis in the U.S.,” said Steve Rosenberg, Founder and Executive Chairman of Greystone. “It’s been an honor to work alongside Ken and his team as we strive to provide clients in the affordable housing sector a truly unmatched suite of solutions to help them achieve their goals.”