{"id":2668,"date":"2021-05-04T19:29:33","date_gmt":"2021-05-05T00:29:33","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-30-million-in-hud-insured-financing-for-affordable-seniors-housing-property-in-pomona-california\/2668\/"},"modified":"2021-05-05T14:29:33","modified_gmt":"2021-05-05T19:29:33","slug":"greystone-provides-30-million-in-hud-insured-financing-for-affordable-seniors-housing-property-in-pomona-california","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-30-million-in-hud-insured-financing-for-affordable-seniors-housing-property-in-pomona-california\/2668\/","title":{"rendered":"Greystone Provides $30 Million in HUD-Insured Financing for Affordable Seniors Housing Property in Pomona, California"},"content":{"rendered":"
The transaction was originated by Shana Daby, a managing director with Greystone, on behalf of AMCAL<\/a>. <\/p>\n

The $29,894,900 million HUD-insured Section 223(f) loan refinances the property at a low, fixed rate with a 35-year term and amortization. Loan proceeds also enable the borrower to make capital improvements and set up a debt service reserve, as well as monetize existing equity in the property.<\/p>\n

Originally constructed by the borrower in 2002, Serenity Villas is an age- and income-restricted apartment community for adults aged 55 years and older. Set across six mid-rise elevator buildings, the pet-friendly property offers one- and two-bedroom units, including Section 8 voucher units, with modern appliances, washer-dryer hook ups, private outdoor living spaces and onsite parking. Residents also have access to the gated community\u2019s clubhouse, business center, spa, laundry room and picnicking area. Located in the San Gabriel Valley of Los Angeles County, the property is near the area\u2019s hospitals, retailers and public transportation, and offers easy access to state highways and thoroughfares.<\/p>\n

\u201cNo matter where their projects are located, our clients rely on us for financing solutions that will enable them to flex as markets evolve,\u201d said Ms. Daby. \u201cOur clients know they can count on Greystone\u2019s extensive HUD lending platform and our unparalleled experience in the affordable housing sector for a seamless and superior transaction experience on every multifamily project.\u201d<\/p>\n

\u201cWe know that when we turn to Greystone, Shana and her team will understand exactly what we need and how to get it done,\u201d said Michael McCloud, VP of AMCAL, a long-time client of the company. \u201cWe keep coming back to Greystone because of its commitment to the multifamily space, and in particular to affordable housing. Greystone makes it easy for us to do our business.\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, April 15, 2021 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a $30 million HUD-insured loan to refinance a 174-unit affordable seniors housing property in Pomona, California.<\/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\/2668"}],"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=2668"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/2668\/revisions"}],"predecessor-version":[{"id":2675,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/2668\/revisions\/2675"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=2668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=2668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=2668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}