{"id":1826,"date":"2021-01-26T17:34:37","date_gmt":"2021-01-26T23:34:37","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-34-4-million-in-hud-insured-construction-financing-in-colorado\/1826\/"},"modified":"2021-01-27T11:34:37","modified_gmt":"2021-01-27T17:34:37","slug":"greystone-provides-34-4-million-in-hud-insured-construction-financing-in-colorado","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-34-4-million-in-hud-insured-construction-financing-in-colorado\/1826\/","title":{"rendered":"Greystone Provides $34.4 Million in HUD-Insured Construction Financing in Colorado"},"content":{"rendered":"
The transaction was originated by Kelley Klobetanz, Managing Director at Greystone on behalf of Southwestern Property Corp. <\/p>\n

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%.<\/p>\n

\u201cThe 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\u2019s evolving renter,\u201d said Mark Campbell of Southwestern Property Corp. \u201cAs our financing provider, Greystone not only shepherded us through the complex HUD financing process, but Kelley and her team\u2019s in-market knowledge proved invaluable as we worked together on the success of this deal.\u201d<\/p>\n

\u201cThe 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,\u201d said Ms. Klobetanz. \u201cWhat 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.\u201d<\/p>\n

\u201cWe are very excited to start construction on the Aspen Hills Apartments after two years of hard work,\u201d said Mr. Givens. \u201cWe 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.\u201d<\/p>\n

About Greystone<\/strong>
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<\/a>.<\/p>\n

PRESS CONTACT:<\/strong>
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com<\/a><\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

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NEW YORK, Jan. 11, 2021 (GLOBE NEWSWIRE) — 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.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/1826"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=1826"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/1826\/revisions"}],"predecessor-version":[{"id":1840,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/1826\/revisions\/1840"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=1826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=1826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=1826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}