Greystone, a leading national commercial real estate finance company, announced that Michael Zampetti, Jr., Managing Director, has joined the Commercial finance team led by Scott Chisholm, based in New York. In this role, Mr. Zampetti will focus on loan production across an array of platforms while working to expand the firm’s lending activities to a broader scope of commercial asset classes.

Mr. Zampetti brings to Greystone 20 years of CRE lending, asset management, and securitization. He comes to Greystone after seven years at CIBC, where he focused on balance sheet and CMBS lending. Prior to CIBC, Mr. Zampetti spent time at CWCapital, FitchRatings, and Credit Suisse.

“I look forward to the opportunity to expand the firm’s capabilities in commercial lending, while offering an unmatched range of financing options to multifamily clients nationwide,” commented Mr. Zampetti.

“Michael brings a long track record of success and deep relationships across the industry. We look forward to his leadership on the commercial team,” said Mr. Chisholm.

Greystone, a leading national commercial real estate finance company, has provided $43.8 million in Freddie Mac financing for the acquisition of a multifamily portfolio totaling 885 units in Georgia’s Metro Atlanta region. The loans were originated by Greystone’s Keith Hires and Carter King of Greystone’s Atlanta office, on behalf of Fillmore Capital Partners.

The two separate Freddie Mac conventional loans each carry a 10-year term with a fixed interest rate and a 30-year amortization, with interest-only payments for the first 10 years.

Located in Atlanta and Athens, the properties and financing include:

·       $22,500,000 for the acquisition of Gardens at Camp Creek, a garden style apartment community in Atlanta with 385 one-, two- and three-bedroom units. Constructed in 1971, the property features on-site parking, laundry facilities, a business center, fitness center and community gardens.

·       $21,300,000 for the acquisition of University Oaks, a garden style property in Athens offering 500 one-, two- and three-bedroom units. Built in 1965, the community offers residents two pools, a business center, fitness center, outdoor sports courts, dog park and picnic area, as well as on-site laundry facilities and parking.

“We couldn’t be more pleased with our team and how they delivered exactly what we needed to acquire these properties,” said Mr. Dustin Frazier, Senior Vice President, Fillmore Capital Partners. “In a market environment that might challenge others, our Greystone team was unflappable.”

“We are very excited about our acquisition of these two prominent assets in high growth markets, which brings our total portfolio in Georgia to over 2,000 units, with more acquisitions under consideration,” added Mr. Michael Reinardy, Senior Vice President, Fillmore Capital Partners.

“The breadth and depth of our lending platform, coupled with our knowledge of the multifamily space, provides confidence in a smooth execution during a market cycle that’s seen so much volatility in the last year,” said Mr. King.

About Greystone

Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.

About Fillmore Capital Partners

Fillmore Capital Partners is a private investment company with principal focus on multifamily housing, healthcare, entertainment, lodging, and other specialized real estate investments. For more information, visit www.fillmorecap.com.

Greystone, a leading national commercial real estate finance firm, has provided a $34.4 million construction loan under the HUD 221(d)(4) program for the $40.5 million development of Aspen Hills Apartments, a 180-unit multifamily community to be located in Commerce City, CO. The transaction was originated by Kelley Klobetanz, Managing Director at Greystone on behalf of Southwestern Property Corp.

Aspen Hills will consist of six three-story residential buildings, containing 90 one-bedroom apartments in 3 different layouts, 72 two-bedroom apartments in 3 different styles and 18 three-bedroom apartments of a single type. Amenities at the property will include a swimming pool, detached garages, a business center, BBQ grills, a clubhouse/recreational building, fitness center, dog wash and dog run. The 40-year fully amortizing non-recourse financing includes a 21-month interest-only period while construction is completed, and at a low, fixed interest rate below 3%.

“The Denver submarket of Commerce City is poised for a surge in occupancy, and we are committed to delivering larger and more spacious units to fit the lifestyle of today’s evolving renter,” said Mark Campbell of Southwestern Property Corp. “As our financing provider, Greystone not only shepherded us through the complex HUD financing process, but Kelley and her team’s in-market knowledge proved invaluable as we worked together on the success of this deal.”

“The demand for multifamily in Denver and surrounding markets is growing, and Mark and his partner Jackson Givens are committed to providing high quality housing to local residents,” said Ms. Klobetanz. “What a pleasure it has been to work on an exciting new construction project that is permanently financed for 40 years at such a low rate. With this loan in place, the sponsors are truly set to focus on completing the project.”

“We are very excited to start construction on the Aspen Hills Apartments after two years of hard work,” said Mr. Givens. “We appreciate the diligence and effort from Kelley and the entire team at Greystone. They are very professional top to bottom and presented a great package to HUD.”

Greystone, a leading national commercial real estate finance company, has provided a $14.9 million HUD-insured loan to refinance a 119-unit multifamily property in Washougal, Washington. The financing was originated by Eric Rosenstock, Managing Director, and Jesse Yodice, Vice President, in Greystone’s New York office on behalf of Fortify Holdings.

The $14,934,800 HUD-insured Section 223(a)(7) financing carries a 35-year term and amortization, along with a low fixed interest rate. The loan refinances an existing HUD-insured loan on the property.

Constructed in 2009, Lookout at the Ridge Apartment Homes offers 119 well-appointed one-, two-, three-, and four-bedroom units with modern appliances and finishes, in-unit washers/dryers, fireplaces and private outdoor living spaces. The pet-friendly, townhouse-style community also offers residents a fitness center and garage parking. Located in Washougal’s prestigious Lookout Ridge neighborhood, the property offers beautiful views of Mt. Hood and the Columbia River Gorge, with easy access to shopping, restaurants, and outdoor recreation and parks, including Vancouver Lake. 

“With every client, on every transaction, my team aims to showcase our deep multifamily expertise and lending platform by delivering a stellar client experience,” said Mr. Rosenstock. “In the current environment, we’ve found that HUD’s (a)(7) product can be a quick and effective way for borrowers to lower their interest rate, extract value, and extend their amortization.”

“Eric’s team is knowledgeable and efficient, and from start to finish, our experience exceeded our high expectations,” said Mr. Sean Keys, principal of Fortify Holdings. “Greystone found us the right resources and financing in record time - we look forward to working with our team again on future transactions.”

Greystone, a leading national commercial real estate finance company, has provided a total of $19,010,000 in Fannie Mae Delegated Underwriting and Servicing (DUS®) and Freddie Mac financing for two multifamily properties in northern California. The transactions were originated by John Tilsch of Greystone’s San Francisco office, on behalf of Gil Allon and Ariel Shenhar.

Greystone provided a fixed-rate, non-recourse, 10-year $8,902,000 Fannie Mae DUS loan for Woodfield Patio Homes, an 88-unit property located in North Highlands, just northeast of Sacramento, CA. The property was constructed between 1950 and 1952 on 4 non-contiguous parcels totaling 7.63 acres and encompasses 22 buildings.

Greystone also provided a fixed-rate, non-recourse, 7-year $10,108,000 Freddie Mac loan for Greystone Place Apartments, a 120-unit apartment community in Sacramento, CA. Since acquiring the property in 2016, Mr. Allon has significantly improved the performance of the asset through capital expenditures, identifying additional revenue sources, and management.

“Despite the challenging environment for property owners, there is availability for financing, and now is the time to take advantage of low interest rates,” said Mr. Tilsch. “Greystone can provide a number of financing options for borrowers, including both Fannie Mae and Freddie Mac, as well as bridge financing and other short- and long-term solutions to meet a borrower’s current capital needs.”

“Greystone provided a dynamic solution for our existing refinance needs on Woodfield and Greystone Place, and seamlessly guided me through two different -- but both very attractive -- financing options,” said Mr. Allon. “John’s market knowledge and client service are incredible resources as I look to continue exploring refinancing options.”

Greystone, a leading national commercial real estate finance company, has provided a $10,791,000 Fannie Mae Delegated Underwriting and Servicing (DUS®) loan to refinance a 200-unit affordable housing property in Dallas, Texas. The transaction was originated by Ana Ramos, managing director in Greystone’s Los Angeles office, with Eric Better of BCREM Capital Inc., acting as correspondent on behalf of 378 Creekside.

The $10.8 million Fannie Mae loan carries a 10-year term with a fixed interest rate and a 30-year amortization. In addition to refinancing, part of the loan proceeds will be used for ongoing renovations and capital improvements, including energy-efficient upgrades, to maximize the value of the property. The property has a project-based HAP contract and LIHTC LURA; due to terms of the HAP contract and creative structuring, Greystone was able to find the right solution for both the borrower and Fannie Mae.

Originally constructed in 1967, Creekside Villas Apartments is a garden-style apartment community offering 200 one-, two- and three-bedroom units. The property was recently renovated in 2019, and offers residents a clubhouse, business center, laundry room, playground, dog park and on-site parking. The Dallas property is located near the Trinity River, just off the F. Hawn Freeway, providing easy access to neighborhood schools, grocery stores and parks.

“Our Greystone team is passionate about find the best financing fit for clients, especially for affordable housing, which is so critical to our society,” said Ms. Ramos. “We are thrilled to provide an excellent solution that will maintain affordability for this property in Dallas, which will positively impact the hundreds of residents at Creekside Villas.”

“Greystone did it again – this time, finding us the right financing terms for a complicated transaction in the middle of a pandemic,” said Mr. Rajab Ali, principal of 378 Creekside. “Ana and her team are tireless and unflappable. Our goal is to offer families at every income level access to quality living spaces that they are proud to call ‘home.’ We are truly grateful that Greystone is our partner in this effort, giving us the tools we need to bring our vision to life.”