Greystone, a leading national commercial real estate finance company, has provided $20,000,000 in HUD-insured financing for a 216-unit affordable housing property in Hialeah, Florida. The FHA financing was originated by Eric Rosenstock, Managing Director in Greystone’s New York office, on behalf of Lewis Swezy of Centennial Management.

Constructed in 2002, Country Club Villas I in Miami-Dade County consists of 10 mid-rise buildings with one-, two-, and three-bedroom units. The $20 million FHA 223(f) loan carries a 35-year term and a low, fixed rate. The property also qualifies for a lower annual MIP (Mortgage Insurance Premium) because it is rent-restricted. In addition to refinancing, loan proceeds enable the borrower to continue with ongoing property maintenance and monetize a portion of their equity.

“My team has had the privilege to finance many projects for Lewis Swezy over the years and we greatly appreciate the relationship,” said Mr. Rosenstock. “We work tirelessly to deliver the right products and solutions for our clients so they can maximize the potential of every property in their portfolio.”

“Our team’s attention to detail throughout the transaction reinforced to us that there is no one better suited than Eric Rosenstock and his team at Greystone to help us achieve our affordable housing strategy in Miami,” said Mr. Lewis Swezy, CEO of Centennial Management. “Greystone’s deep experience in this market meant that our transaction closed quickly and seamlessly – they are truly best-in-class when it comes to multifamily finance, particularly HUD.”

Greystone, a leading national commercial real estate finance company, has provided a $16,970,000 Fannie Mae Delegated Underwriting Services (DUS®) loan to refinance a 258-unit multifamily property in Hopkinsville, KY. The transaction was originated by Lorie Hanson, Managing Director at Greystone.

The 10-year, fixed-rate Fannie Mae loan for Aspen Meadow includes interest-only payments for the full term of the loan. Acquired in October 2020, the property has received nearly $1 million in capital expenditures including both interior and exterior upgrades and to the common amenities. 

“The borrowers were wonderful to work with and moved quickly to take advantage of an early rate lock, in an increasing interest rate environment,” said Ms. Hanson. “They have invested in a long-term hold of the property and this Fannie Mae refinance enables them to preserve this asset. It was a pleasure working with them and we are thrilled the outcome.”

Greystone, a leading national commercial real estate finance company, placed $15,000,000 in financing for a 152-unit senior housing property in Everett, Washington. The transaction was originated by Tyler Armstrong of Greystone, on behalf of Lytle Enterprises, LLC.

Washington Oakes in Snohomish County consists of studio, one-, two- and three-bedroom units and offers independent living and assisted living services, with Leisure Care, LLC, serving as property manager. The non-recourse, fixed rate $15 million loan provided by a life insurance company carries a 7-year term and 30-year amortization, with 60% loan-to-value (LTV). In addition to refinancing, loan proceeds enable the borrower to monetize a portion of their equity in the property and continue with ongoing maintenance.

“Greystone is committed to bringing valuable financing solutions to our clients that fit their strategic objectives,” said Cary Tremper, Head of the Seniors Housing Capital Markets Team. “Our lending relationships allowed our client to receive favorable terms from the market with a quick close.”

“Greystone was a true partner in bringing this transaction together,” said Ms. Jill Ashton, principal of the borrower. “Their depth of relationships in the space and continuous efforts to find the right financing solution for our communities are very much appreciated. We count Cary and his team as partners and look forward to working together again in the future.”

Greystone, a leading national commercial real estate finance company, has provided a $33,717,000 Fannie Mae Delegated Underwriting and Servicing (DUS^®) loan for the acquisition of a 324-unit multifamily property in Jonesboro, Arkansas. The financing was originated by Eric Rosenstock and Dan Sacks, Co-Managing Directors in Greystone’s New York office, on behalf of CLK Properties.

Constructed in 2011, Willow Creek Apartments in Craighead County consists of 12 garden-style buildings with one-, two- and three-bedroom units. The $33.7 million non-recourse Fannie Mae Green Mortgage loan carries a 10-year term and 30-year amortization along with full-term, interest-only payments. The property has received Energy Star Certification for Fannie Mae’s Green Building Certification, which recognizes the top 25% of the most energy-efficient buildings within its class.

“We work hard to earn our clients’ trust on every transaction, so there is no greater ‘vote of confidence’ than when a client comes to Greystone for help in financing additions to their portfolios,” said Mr. Rosenstock. “We couple our extensive expertise in multifamily lending with a deep commitment to serving clients well for an experience they won’t get anywhere else.”

“Our Greystone team truly understands the nuances of multifamily financing, which benefits us not only at closing but at every stage of the transaction,” said Mr. Craig Koenigsberg, CEO of CLK Properties and a valued client of Greystone. “Greystone is our trusted partner because they believe in our vision for each of our properties and then work tirelessly to help us make the vision a reality.”

The Willow Creek Apartments sale was brokered by Aaron Jungreis and David Wildes of Rosewood Realty Group. “The completion of this transaction further highlights the success of Rosewood and Greystone’s correspondent relationship and I’m happy to add this to the list of wins,” added Mr. Jungreis.

Greystone, a leading national commercial real estate finance company, has provided a $49,680,000 HUD 223(f) loan to refinance a 360-unit multifamily property in San Antonio, Texas. The financing was originated by Reuben Dolny, Director at Greystone, on behalf of The Bascom Group, a repeat client of the firm.

Built in 2001, The Anthony at Canyon Springs in Bexar County consists of 37 garden-style buildings with one-, two-, three- and four-bedroom units. Amenities include a beautiful clubhouse, resort style pool, tennis court, exercise room, sauna, movie theater, and putting green. The $49.7 million HUD-insured loan carries a 35-year term, 35-year amortization and a low, fixed rate. The property also qualifies for a 35-basis point reduction in Mortgage Insurance Premium (MIP) for achieving green standards. The class A property will go through an interior and exterior renovation plan, and the tenants will not only benefit from the renovations, but will also see a reduction in utility consumption.

“We are thrilled to work on another HUD loan for The Bascom Group 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. Dolny. “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.”

“It’s no secret that we value Greystone’s guidance and expertise in multifamily financing – it’s why we first turned to Reuben and his team to finance this property in 2014 and now we are able to reinvest in the property,” said Mr. Jerry Fink, Managing Partner at The Bascom Group. “On every transaction, our Greystone team is responsive, tenacious and committed to a level of service and execution that surpasses anyone else. We view Greystone as a true partner and look forward to working with our team again.”

“It was a pleasure working with Reuben and his extensive support team to close this phenomenal new loan on desirable terms. Greystone’s expertise is invaluable, and this new loan allows us to position the asset as best-in-class for many years to come,” added Mr. Tony Ferrell, Senior Principal of Operations for The Bascom Group.

Greystone, a leading national commercial real estate finance company, announced that Catalina Consuegra has joined the firm as a Vice President of Diversity, Equity & Inclusion, reporting to Pranika Sinha, Managing Director and head of the firm’s DEI strategy and efforts. Ms. Consuegra brings over a decade of experience in implementing DEI strategy cross-functionally and executing successful social impact initiatives.

Joining Greystone from EDP Renewables North America in Houston, TX, where she served as an Equity, Diversity & Inclusion and Relationship Management Associate, Ms. Consuegra brings a focus on inclusion practices and critical metrics to measure progress in recruitment and retention. In her new role at Greystone, she will develop and manage DEI plans across the firm’s business lines, lead training sessions and contribute to leadership development as the firm works to achieve its DEI goals.

“Greystone’s efforts in all areas of DEI have pushed forward our progress, and I am so thrilled that Catalina will be able to take our plans to the next level,” said Ms. Sinha, who joined the firm to lead DEI in 2021. “We have embarked on a number of parallel journeys with DEI as the catalyst, such as launching employee resource groups and our growing partnership with Project Destined, and we are excited to have Catalina pioneer new initiatives that will help grow diversity at Greystone while also increasing opportunities for underrepresented communities as a result.”

Prior to her role at EDP, Ms. Consuegra was Founder and Director at Ducere Training LLC, and served as a Senior Diversity & Inclusion Advisor for Anadarko Petroleum Corporation, as well as other roles in human resources and business services. She earned a Bachelor’s Degree from Rosario University in Bogota.