{"id":4884,"date":"2022-01-10T20:11:57","date_gmt":"2022-01-11T02:11:57","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-29-million-in-hud-insured-financing-for-affordable-housing-property-in-california\/4884\/"},"modified":"2022-01-11T14:11:57","modified_gmt":"2022-01-11T20:11:57","slug":"greystone-provides-29-million-in-hud-insured-financing-for-affordable-housing-property-in-california","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-29-million-in-hud-insured-financing-for-affordable-housing-property-in-california\/4884\/","title":{"rendered":"Greystone Provides $29 Million in HUD-Insured Financing for\u00a0Affordable Housing Property in California"},"content":{"rendered":"<div> The transaction was originated by Eric Rosenstock, Managing Director, and Jesse Yodice, Vice President, both of Greystone, on behalf of Kailani Village.  <\/p>\n<p>The $29.1 million HUD-insured Section 223(f) financing carries a 35-year term and amortization, along with a fixed interest rate in the mid-2s. <strong>Kailani Village<\/strong>, located in Santa Barbara County, is a midrise rental property constructed in 1965 that consists of 46 one-bedroom, 71 two-bedroom and 3 three-bedroom units, as well as 14 four-bedroom units. All of the units are subject to rent restrictions based on the area\u2019s median income, and as a result, the property qualifies as affordable housing.<\/p>\n<p>\u201cWe chose Greystone because of their deep expertise in multifamily HUD lending \u2013 they understood the uniqueness of this property and worked tirelessly to deliver the right financing terms for our capital needs,\u201d said Kenneth P. Slaught, principal of the borrower. \u201cThroughout every phase of this transaction, our team exceeded our expectations, which is why we look forward to working with Eric and his team in the future.\u201d<\/p>\n<p>\u201cOur number one goal in every transaction is to deliver a service experience that far surpasses clients\u2019 expectations,\u201d said Mr. Rosenstock. \u201cMy extensive lending experience and Greystone\u2019s multifamily lending platform enables me to give our clients access to the best financing options in every market, with the most sophisticated and seamless execution possible.\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=j3LIONJ6V3hrRgC54t5v-EoxoVk-b5QYwFLIgX7YkZvC2U5oIDeFp5hkaCl_OE5EHwixj7tBlU-5iduNcvCdKA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\" title=\"www.greystone.com\">www.greystone.com<\/a>.<\/p>\n<p><strong>PRESS CONTACT:<\/strong><br \/>Karen Marotta<br \/>Greystone<br \/>212-896-9149<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=PjR8L1kmh5Qzfe9BKE0PSwIJhuT2mXNhonwNgQb6HRYzSUXdulfRrmb4enH-lpsRtKW-uSfZhAD25tbMXtKrhxWIUot76VV3xLy_ic2ATf0=\" 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\/ZWQ0MGM1MWUtYTQ0ZS00ZTI1LThiYTctYjllYWYzYWFiNWM3LTEwMzQ5NDg=\/tiny\/Greystone.png\"><\/div>\n","protected":false},"excerpt":{"rendered":"<div>\n<p align=\"left\">NEW YORK, Dec. 14, 2021 (GLOBE NEWSWIRE) &#8212; Greystone, a leading national commercial real estate finance company, has provided a $29,121,000 HUD-insured loan to refinance a 185-unit multifamily property in Lompoc, 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\/4884"}],"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=4884"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/4884\/revisions"}],"predecessor-version":[{"id":4899,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/4884\/revisions\/4899"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=4884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=4884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=4884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}