{"id":5816,"date":"2022-04-18T11:53:31","date_gmt":"2022-04-18T16:53:31","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-20-million-in-hud-insured-financing-for-multifamily-property-in-philadelphia-pennsylvania\/5816\/"},"modified":"2022-04-19T06:53:31","modified_gmt":"2022-04-19T11:53:31","slug":"greystone-provides-20-million-in-hud-insured-financing-for-multifamily-property-in-philadelphia-pennsylvania","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-20-million-in-hud-insured-financing-for-multifamily-property-in-philadelphia-pennsylvania\/5816\/","title":{"rendered":"Greystone Provides $20 Million in HUD-Insured Financing for Multifamily Property in Philadelphia, Pennsylvania"},"content":{"rendered":"<div> The financing was originated by Jason Yuen, Managing Director at Greystone, on behalf of 49th &amp; Spruce Associates LP, a repeat client of the firm.  <\/p>\n<p>First constructed in 1925 and completely renovated in 2012, <strong>Croydon Hall Apartments <\/strong>in Philadelphia County is a mid-rise elevator building consisting of one-, two- and three-bedroom units. The $20 million HUD-insured loan carries a 35-year term and 35-year amortization along with a low, fixed rate. The property qualifies for a 25-basis point reduction in Mortgage Insurance Premium (MIP) for achieving green standards.<\/p>\n<p>\u201cThere is no greater compliment than when clients come back to Greystone, particularly because they know they can trust us to help them overcome obstacles in a transaction,\u201d said Mr. Yuen. \u201cOur team, and in particular Phiet Nguyen, worked tirelessly to ensure that our client had an exceptional experience in spite of challenging uncertainties. We look forward to partnering with them on more deals in the future.\u201d<\/p>\n<p>\u201cHaving worked actively in real estate in Philadelphia for quite some time, we can\u2019t emphasize enough how pleased our team is with Greystone\u2019s expertise and handling of this transaction,\u201d said Mr. Kfir Binnfeld, principal of the borrower. \u201cOur Greystone team, led by Jason Yuen and Phiet Nguyen, were consummate professionals, handling every curveball thrown at them during the process. It is truly because of their creativity and expertise in the multifamily market that we were able to finalize the transaction &#8212; they were great partners and we look forward to working with them again.\u201d<\/p>\n<p align=\"left\"><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=D4D2HPdJ6ESdKIcj4U5MBFKNrl-BcomeDsiItqetVnusNokVcMBzfE3jnpcH3PQtoOSVB7ol9xF0dWqs-wja-Q==\" rel=\"nofollow noopener\" target=\"_blank\" title=\"www.greystone.com\">www.greystone.com<\/a>.<\/p>\n<p align=\"left\"><strong>PRESS CONTACT:<br \/><\/strong>Karen Marotta<br \/>Greystone<br \/>212-896-9149<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=hR26isFm6hx1AZfdmB9czv3owDXFC3K8InahhbkhEku_XrTxWveww6D4OjulFhHksgYqqj75TD3x15lFVScCO0aXtyZRBuwhW8kJxvcf3nw=\" rel=\"nofollow noopener\" 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\/YzJmNTMzYTUtYjNhNS00ODA4LWEwNGItMTEzMWVlMzVlYzM5LTEwMzQ5NDg=\/tiny\/Greystone.png\"><\/div>\n","protected":false},"excerpt":{"rendered":"<div>\n<p align=\"left\">NEW YORK, March 21, 2022 (GLOBE NEWSWIRE) &#8212; Greystone, a leading national commercial real estate finance company, has provided a $20,000,000 HUD 223(f) loan to refinance a 127-unit multifamily property in Philadelphia, Pennsylvania.<\/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\/5816"}],"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=5816"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/5816\/revisions"}],"predecessor-version":[{"id":5825,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/5816\/revisions\/5825"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=5816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=5816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=5816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}