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The Nation�s #1 HUD Multifamily Lender to Provide Permanent Financing Exit�for Hunter�s Cove Apartment Homes
NEW YORK, June 05, 2018 (GLOBE NEWSWIRE) — Greystone, a lending, investment, and advisory company, today announced it has provided $22 million in bridge financing for the acquisition of Hunter�s Cove Apartments Homes in Waxahachie, Texas. Ana Ramos, managing director in Greystone�s Los Angeles office, originated the loan with Andy Bratt of Newmark acting as correspondent on the transaction.
Located just outside Dallas, Hunter�s Cove Apartments features eight, three-story garden-style apartment buildings with a combined 192 residences. These homes range from one- to three-bedroom units and offer stunning lake views. Residents also have access to a clubhouse, fitness center, dog park, enclosed garages, and a resort-style swimming pool.
The $22 million bridge loan carries a two-year term. However, Greystone�s HUD group simultaneously processed the HUD 223(f) permanent financing which is anticipated to close within the next six months.
�By leveraging Greystone�s full-service capabilities, we were able to provide a bridge finance solution for the acquisition and an exit plan for long-term financing with HUD,� said Ms. Ramos. �Greystone�s deep experience and flexibility enables us to navigate a variety of property acquisition scenarios � including a rigid 1031 exchange timeline � and execute beyond our clients� expectations.�
Greystone is a real estate lending, investment and advisory company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top lender in these sectors. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge, mezzanine, and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.