{"id":3510,"date":"2021-08-01T16:14:16","date_gmt":"2021-08-01T21:14:16","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-11-million-in-hud-insured-financing-for-multifamily-property-in-moorhead-minnesota\/3510\/"},"modified":"2021-08-02T11:14:16","modified_gmt":"2021-08-02T16:14:16","slug":"greystone-provides-11-million-in-hud-insured-financing-for-multifamily-property-in-moorhead-minnesota","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-11-million-in-hud-insured-financing-for-multifamily-property-in-moorhead-minnesota\/3510\/","title":{"rendered":"Greystone Provides $11 Million in HUD-Insured Financing for Multifamily Property in Moorhead, Minnesota"},"content":{"rendered":"<div> The transaction was originated by Dan Sacks and Ilan Bassali of Greystone on behalf of the Northridge Group.  <\/p>\n<p>The $11 million HUD-insured loan carries a 35-year term and amortization, along with a low, fixed rate. Constructed in two phases in 2016 and in 2019, <strong>South Shore Landing I &amp; II Apartments<\/strong> consists of four, detached mid-rise elevator buildings offering studio, one-, two- and three-bedroom apartments that feature modern appliances and finishes, in-unit washer\/dryers and private outdoor living spaces. Residents have access to a clubhouse, fitness center, game and media room, barbeque and picnic area, pet park and a heated parking garage. The property is close to the region\u2019s major employers, shopping, dining and educational centers, including Minnesota State University Moorhead campus, and is close to major highways that offer convenient access to the Canadian border and Minneapolis.<\/p>\n<p>\u201cThere is no greater compliment than when our clients entrust us with multiple properties in their portfolio,\u201d said Mr. Bassali. \u201cGreystone strives to be the partner that brings to life our clients\u2019 long-term vision for each property, which is why we work hard to exceed expectations on every transaction.\u201d<\/p>\n<p>\u201cOnce again, our Greystone team was able to secure the right financing for our needs,\u201d said Ryan Carlson, co-founder and principal of the Northridge Group. \u201cWe were initially attracted to Greystone\u2019s deep multifamily expertise and extensive lending platform, but it is the seamless execution and unparalleled service experience that keeps us coming back.\u201d<\/p>\n<p align=\"justify\"><strong>About Greystone<\/strong><br \/>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 <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=hsc-xF6KjyPlnv5agH4lpgjGHkSOyC3jtJk5GjirCwUMni7_zO2AhXaPjDR0HzqUNXC_jWgp0l9AjUtmjhp7Gw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\" title=\"www.greystone.com\">www.greystone.com<\/a>.<\/p>\n<p align=\"justify\"><strong>PRESS CONTACT:<\/strong><br \/>Karen Marotta<br \/>Greystone<br \/>212-896-9149<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=A67rl4Qlvj_kyr1LYyqfUTL16FNmxiuFg2zyG8cePp5yqVhbVL-lT6r-VguIvxbGO5Bn6sehq2UdI9J1meXZW9xvIBH4w1YSIQ5prSQZ7Ag=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\" title=\"Karen.Marotta@greyco.com\">Karen.Marotta@greyco.com<\/a><\/p>\n<p><img loading=\"lazy\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" width=\"1\" height=\"1\" class=\"lazyload\" data-src=\"https:\/\/ml.globenewswire.com\/release\/track\/ad36f571-5925-4b49-b738-ce4d584e2690\"><\/div>\n","protected":false},"excerpt":{"rendered":"<div>\n<p align=\"left\">NEW YORK, July 14, 2021 (GLOBE NEWSWIRE) &#8212; Greystone, a leading national commercial real estate finance company, has provided $11,160,000 in HUD 223(f) financing to refinance a 93-unit multifamily property in Moorhead, Minnesota.<\/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\/3510"}],"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=3510"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/3510\/revisions"}],"predecessor-version":[{"id":3527,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/3510\/revisions\/3527"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=3510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=3510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=3510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}