{"id":3301,"date":"2021-07-18T08:24:15","date_gmt":"2021-07-18T13:24:15","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-7-8-million-in-hud-insured-financing-for-affordable-housing-community-in-roseville-michigan\/3301\/"},"modified":"2021-07-19T03:24:15","modified_gmt":"2021-07-19T08:24:15","slug":"greystone-provides-7-8-million-in-hud-insured-financing-for-affordable-housing-community-in-roseville-michigan","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-7-8-million-in-hud-insured-financing-for-affordable-housing-community-in-roseville-michigan\/3301\/","title":{"rendered":"Greystone Provides $7.8 Million in HUD-Insured Financing for Affordable Housing Community in Roseville, Michigan"},"content":{"rendered":"
The financing was originated by Lisa M. Fischman, Managing Director in Greystone\u2019s New York office on behalf of The Altman Companies. <\/p>\n

The $7,760,000 HUD-insured section 223(f) loan which finances The Meadows of Roseville<\/strong>, carries a 35-year term with a low, fixed interest rate. The Greystone team also made sure the Section 8 HAP contract was extended so that The Meadows would save even more with a reduction in the MIP to 0.25% for the life of the loan. This permanent financing represents a refinance of a previous HUD loan already in the Greystone portfolio from 2015.<\/p>\n

The Meadows of Roseville is a section 8 affordable housing community consisting of 124 one- and two-bedroom apartments with amenities such as a playground and picnic tables.<\/p>\n

\u201cThis was a unique financing situation that resulted in a last-minute change that significantly improved the result for The Altman Companies, but the team at HUD was great throughout the entire process,\u201d said Ms. Fischman.<\/p>\n

\u201cOver the years, Greystone has proven to be a nimble and reliable partner for us,\u201d said Joel Altman, chairman of The Altman Companies. \u201cWe are thrilled to lock in low rates for long-term financing as we look to make our communities even more beautiful and well-appointed for the families that live there.\u201d<\/p>\n

About Greystone<\/strong>
Greystone is a 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, June 24, 2021 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a $7.8 million HUD-insured loan to refinance a 124-unit affordable housing community in Roseville, Michigan.<\/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\/3301"}],"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=3301"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/3301\/revisions"}],"predecessor-version":[{"id":3307,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/3301\/revisions\/3307"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=3301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=3301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=3301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}