Greystone, a leading national commercial real estate finance company, announced it has provided a $49,207,000 Fannie Mae DUS® loan to refinance a 150-unit multifamily community located in Norwalk, Connecticut. The financing was originated by Greystone’s Clint Darby and Andrew Remenschneider, on behalf of Spinnaker Real Estate Partners.

Built in 2024 in Fairfield County, SoNo Central is a six-story apartment complex featuring studio, one-, and two-bedroom units, and 12 commercial units. Residents enjoy access to a fitness center, community great room with co-working lounge, and a courtyard with swimming pool, barbeque stations and bocce ball court.

The property helps provide more affordable housing for the community in having at least 10% of the dwelling units rented to persons / families whose annual income is less than or equal to 80% of the Area Median Income.

“Greystone’s careful and creative approach helps our clients achieve their goals, and it’s exceptional to add this Spinnaker asset to our portfolio given the client’s strong position as a top developer of multifamily in Connecticut as well as helping facilitate more affordability of rents,” said Mr. Darby. 

“We turned to Greystone because of their industry-leading reputation for service and extensive multifamily lending platform,” said Mr. John Wilcox, Spinnaker CFO. “Our Greystone team exceeded expectations on every measure; they were dedicated and responsive, and we look forward to working with them on future projects.”

Greystone, a leading national commercial real estate finance company, has provided a $125.8 million bridge loan and arranged $19.5 million in preferred equity financing for The Alary, a newly completed 315-unit multifamily property located in New Rochelle, NY. The bridge loan was originated by Greystone’s Donny Rosenberg and Jared Kaufman, with preferred equity placement led by Greystone Capital Advisor’s Matthew Zisler.

Developed by Allstate Ventures, The Alary features high-end condominium-style finishes, a rooftop pool and lounge with skyline views, coworking space, a golf simulator, and other resort-style amenities. Located within a rapidly transforming arts and culture district in Westchester County, just steps from the Metro-North station and a 35-minute commute to Midtown Manhattan.

The financing was structured as a three-year interest-only bridge loan with two six-month extension options. Forum served as the preferred equity partner in the transaction. The Alary marks the final phase of Allstate Ventures’ Westchester Place development, a multi‑building, transit‑oriented residential assemblage in downtown New Rochelle. The project follows the successful delivery and lease‑up of Arc House and The Atelier, two adjacent multifamily properties developed as earlier phases of the plan. The portfolio benefits from immediate proximity to the Metro‑North station, supporting commuter demand to Midtown Manhattan, as well as ground‑floor retail and integrated public art elements that have contributed to the area’s repositioning as a mixed‑use corridor.

“Working through the complex zoning and PILOT requirements of New Rochelle’s development framework required detailed legal structuring and a thoughtful financing approach,” said Matthew Zisler, Senior Managing Director at Greystone Capital Advisors. “Our ability to navigate these challenges and pair a strong debt execution with institutional-quality equity capital reflects our deep experience and platform integration. We are pleased to support the sponsor through this key phase of its business plan.”

This muti phase project was a vision orchestrated by Allstate Ventures to implement the long-term objectives of the City of New Rochelle in rezoning the entire Downtown New Rochelle which started in 2018.

Greystone, a leading national commercial real estate finance company, has provided a $36,595,000 Freddie Mac loan to refinance a 476-unit garden-style multifamily community located in Houston, Texas. The financing was originated by Gill Dolan, Managing Director at Greystone.

Originally developed in 1966, the property offers renovated apartments and townhomes with one-, two- and three-bedroom layouts. The $36,595,000 Freddie Mac loan carries a fixed 5-year term and features full-term interest-only payments. The financing replaces a floating-rate bank loan and enables continued property renovations. Since acquiring the property, the sponsor has undertaken extensive capital improvements, including HVAC, roofing, and electrical upgrades, in addition to interior unit renovations.

“This refinance allowed our client to secure long-term, fixed-rate financing while continuing to reinvest in a well-located asset,” said Mr. Dolan. “Freddie Mac’s flexible structure and Greystone’s deep understanding of the sponsor’s goals made this a seamless execution.”

Greystone, a leading national commercial real estate finance company, has provided a $97,600,000 HUD-insured loan to refinance a 272-unit multifamily property in East Harlem, New York. The financing was originated by Senior Managing Director Eric Rosenstock and Executive Vice President Jeff Englund of Greystone, on behalf of Metropolitan Realty Group.

Built in 1910, Villa Hermosa Apartments in New York County consists of three mid-rise, elevator buildings with one-, two- and three-bedroom units, which are income-restricted to 50% Area Median Income (AMI) for residents and supported by long-term Section 8 project-based rental assistance. The $97.6 million HUD-insured Section 223(f) non-recourse financing features a 35-year term and amortization, along with a low, fixed rate. In addition to refinancing, loan proceeds will be used to complete substantial in-unit renovations and building improvements. The property is covered by a new 20-year HAP contract that was executed in conjunction with the approval of a Mark-Up-to-Market.  

“This financing preserves an important affordable asset in one of Manhattan’s most supply-constrained neighborhoods,” said Eric Rosenstock, Senior Managing Director at Greystone. “Our HUD execution allowed us to structure long-term, stable financing that supports the sponsor’s mission of maintaining high-quality affordable housing while investing meaningfully into the property’s future.”

“Our commitment to Villa Hermosa spans decades, and this refinancing ensures we can continue delivering safe, dignified, and modern housing for the families who call this community home,” said Scott Jaffee, CEO of Metropolitan Realty Group. “Greystone’s expertise navigating the HUD process enabled us to secure exceptional long-term financing while also investing in major upgrades that will benefit residents for years to come.”

Greystone, a leading national commercial real estate finance company, in partnership with Cushman & Wakefield, announced they provided acquisition financing for, and arranged the sale of, respectively, the 173-unit Magnolia Preserve, a multifamily apartment community in Dothan, Alabama. The $22,311,000 Fannie Mae DUS® loan was originated by Elliott Mulkin of Greystone, while Craig Hey and Andrew Brown of Cushman & Wakefield brokered the sale on behalf of Oakley Group.

Magnolia Preserve is a garden-style apartment community located on 11.2 acres in Dothan, Alabama. Built in 2014, the property encompasses over 191,000 square feet of rentable space across nine residential buildings. Units feature modern interiors, with many renovated to include stainless steel appliances, granite countertops, updated lighting, and sunrooms in select layouts. Community amenities include a resort-style swimming pool, outdoor cabana with kitchen and fireplace, electronic package lockers, a dog park, car care center, business center, cybercafé, and a fitness center. Magnolia Preserve serves a resident demographic that includes a significant number of healthcare professionals, supported by the presence of two major medical centers in the area. 

“Magnolia Preserve is a high-quality asset with a stable tenant base and strong sponsorship,” said Elliott Mulkin, Managing Director at Greystone. “We were pleased to work alongside Cushman & Wakefield to deliver seamless Agency execution and competitive terms tailored to the client’s long-term goals.”

Added Hey, Cushman & Wakefield Vice Chair, “Oakley Group’s continued investment in the Southeast multifamily market speaks to the strong fundamentals in this region. The collaborative effort between our teams ensured this acquisition was financed efficiently and positioned for long-term success.”

Greystone, a leading national commercial real estate finance company, has provided a $20,977,600 HUD -insured loan to refinance Windover Oaks Apartments, a 238-unit affordable housing community in Titusville, Florida. The transaction was originated by Miryam Reinitz-Kops and Jon Morales of Greystone, on behalf of Atlantic Housing Foundation.

Built in 1984, Windover Oaks Apartments in Brevard County features 20 garden-style apartment buildings with one-, two-, and three-bedroom units, including 180 units for affordable housing. Community amenities include a clubhouse, swimming pool, outdoor courts, playground, laundry room and car care center.

The $20,977,600 HUD 223(f) loan carries a 35-year term and amortization. The property qualifies for the green building certification. In addition to refinancing, loan proceeds enable the borrower to continue with ongoing property maintenance and monetize a portion of their equity. 

The property, built in 1984 and comprising a mix of one-, two-and three-bedroom units, has long-served low- and moderate-income households in the region.

Windover Oaks offers residents access to community amenities such as a swimming pool, clubhouse, racquetball court, and playground, and is managed by Atlantic Housing Foundation, a nonprofit with a track record in affordable housing preservation.

“We are proud to help our client preserve critical affordable housing in Florida through HUD financing programs,” said Ms. Reinitz-Kops. “Greystone is deeply committed to delivering mission-driven capital solutions that can provide affordable, long-term housing stability to individuals and families across the country.”

“This investment by the Foundation will provide an improved quality of life for our residents, upgrade our competitive market position, enhance the functionality of the property, and allow our residents to comfortably enjoy their updated homes while helping to reduce their utility expenses,” said Kent Foster, Developer for the project. “This is yet another example of the Foundation staying true to its mission.”