{"id":4377,"date":"2021-11-02T14:22:11","date_gmt":"2021-11-02T19:22:11","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-15-6-million-in-hud-insured-financing-for-california-multifamily-property\/4377\/"},"modified":"2021-11-03T09:22:11","modified_gmt":"2021-11-03T14:22:11","slug":"greystone-provides-15-6-million-in-hud-insured-financing-for-california-multifamily-property","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-15-6-million-in-hud-insured-financing-for-california-multifamily-property\/4377\/","title":{"rendered":"Greystone Provides $15.6 Million in HUD-Insured Financing for California Multifamily Property"},"content":{"rendered":"<div> The transaction was originated by Dale Holzer of Greystone on behalf of Reseda 18860 LLC.  <\/p>\n<p><strong>Sherman Way<\/strong> <strong>Apartments<\/strong>, located at 18840 Sherman Way in Reseda, Los Angeles County, is a mid-rise rental property constructed in 2018 containing 15 one-bedroom and 34 two-bedroom units. The property also contains two commercial real estate retail space comprising 2,000 square feet. The 35-year loan includes an interest rate in the mid-2\u2019s and represents 80% loan-to-value. The property also qualified for ENERGY STAR certification with a score of 99, and as such, will pay the lower annual MIP (Mortgage Insurance Premium) of 0.25%.<\/p>\n<p>\u201cWe are thrilled to have closed acquisition financing with a 35-year term at a low-, fixed rate,\u201d said Demitri Samaha, principal of the borrower. \u201cDale\u2019s team came to the table experienced, knowledgeable, and determined to provide us with the best capital solution for our needs.\u201d<\/p>\n<p>\u201cGreystone has many tools at our clients\u2019 disposal, and the HUD product for long-term property investment holds is likely one of the best options a borrower can pursue,\u201d said Mr. Holzer. \u201cWith rates still at favorable levels, it makes sense to assess how much a long-term refinance can save you on debt service, while also potentially providing equity extraction.\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=UrqW_5UBvkbuiE-TcgRpbLJ9cYBwk3MIf-VDZ8YqoYDi0ntQ72rKo1tvmYahRaqsHeVLe-ONS9SovAuvhwoM0w==\" 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=dWE3wrr6JE2stROuC7IuB6z2SQbsYr2QR7K6zsx4uXNykmcKWlUZH48WIdVmPu91q-R9HoWOfhkXlJ9hpy58xBg8UAjm917qsPqnK3cX3s0=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\" title=\"Karen.Marotta@greyco.com\">Karen.Marotta@greyco.com<\/a><\/p>\n<p><img src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-src=\"https:\/\/ml.globenewswire.com\/media\/NThhNjAxYTgtZmMwNC00ZDJmLWFmMmMtMTEyM2Y5YjdiN2U0LTEwMzQ5NDg=\/tiny\/Greystone.png\"><\/div>\n","protected":false},"excerpt":{"rendered":"<div>\n<p align=\"left\">NEW YORK, Oct. 18, 2021 (GLOBE NEWSWIRE) &#8212; Greystone, a leading national commercial real estate finance company, has provided a $15,658,900 HUD-insured loan to refinance a 49-unit multifamily property in San Fernando Valley, 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\/4377"}],"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=4377"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/4377\/revisions"}],"predecessor-version":[{"id":4397,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/4377\/revisions\/4397"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=4377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=4377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=4377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}