{"id":7373,"date":"2022-11-11T12:23:49","date_gmt":"2022-11-11T18:23:49","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-15-million-in-total-freddie-mac-financing-for-new-affordable-development-in-baltimore-using-4-and-9-tax-credits\/7373\/"},"modified":"2022-11-12T06:23:50","modified_gmt":"2022-11-12T12:23:50","slug":"greystone-provides-15-million-in-total-freddie-mac-financing-for-new-affordable-development-in-baltimore-using-4-and-9-tax-credits","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-15-million-in-total-freddie-mac-financing-for-new-affordable-development-in-baltimore-using-4-and-9-tax-credits\/7373\/","title":{"rendered":"Greystone Provides $15 Million in Total Freddie Mac Financing for New Affordable Development in Baltimore Using 4% and 9% Tax Credits"},"content":{"rendered":"
The transaction, which is leveraging both 4% and 9% tax credits to finance the development of the property, was originated by Pharrah Jackson-Rowell, Vice President, Greystone in partnership with Bank of America as construction lender, and on behalf of Conifer Realty, LLC, the developer. <\/p>\n

Cold Spring Lane<\/strong> is a planned new development located at 3205 West Cold Spring Lane in Baltimore, MD. The property will contain 67 one-bedroom units, 57 two-bedroom units, and 41 three-bedroom units. Situated in Park Heights, the new property will be fully transit-oriented, located one block away from the Cold Spring Metro Station.<\/p>\n

The construction is being financed by a construction loan from Bank of America, subordinate debt and grants from Community Development Association \/ Rental Housing Works, Baltimore Regional Neighborhood Initiative Program (BRNI), Project C.O.R.E Grant, and tax credit equity. The forward commitments from Freddie Mac comprise a 36-month period with a 17-year permanent loan term and 35-year amortization.<\/p>\n

\u201cWe are thrilled to have partnered with Conifer to structure innovative financing for their exciting new affordable housing project in Baltimore,\u201d said Mrs. Jackson-Rowell. \u201cThis is an area that is in desperate need of new, quality affordable housing, and Conifer\u2019s commitment to that mission is clear. Bravo to the entire team, including my colleague Chris Wimmer, an integral underwriter on the transaction.\u201d<\/p>\n

\u201cGreystone has been a trusted guide in this process, and their expertise on tax credits and affordable housing is second to none,\u201d said Brian Ivy, Vice President, Finance, Conifer Realty LLC. \u201cThe team has an exceptional grasp on both financing and market dynamics. We look forward to working together again.\u201d<\/p>\n

About Greystone<\/strong>
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 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, Oct. 24, 2022 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided forward commitments for two loans, a $12.361 Freddie Mac 4% LIHTC Tax Exempt Loan and a $2.712 million 9% LIHTC loan, for the development of a 165-unit affordable housing property in Baltimore, MD.<\/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\/7373"}],"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=7373"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/7373\/revisions"}],"predecessor-version":[{"id":7438,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/7373\/revisions\/7438"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=7373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=7373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=7373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}