NEW YORK, Dec. 01, 2020 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a $22.9 million HUD-insured loan to Bridgeview Multifamily to refinance a 147-unit multifamily property in the Dallas-Fort Worth suburb of Garland, Texas. The financing was originated by Eric Rosenstock, assisted by Paul Smyth and Cary Williams.
The $22,916,500 HUD-insured Section 223(a)(7) financing carries a 39-year term and amortization, along with a low, fixed interest rate. Constructed in 2015, Carriage Homes on the Lake consists of 15 three-story rowhouse buildings with one- and two- bedroom units. Residents of the gated, pet-friendly community have access to the clubhouse and business center, fitness center, swimming pool, and outdoor picnic and play area. The property is near the George Bush Toll Road and offers easy access to downtown Dallas via public transportation, as well as to the Firewheel Town Center, local shopping, entertainment and dining.
“My team consistently surpasses expectations when it comes to HUD lending, no matter the transaction or market cycle,” said Mr. Rosenstock. “Our commitment to seamless execution, coupled with our deep HUD platform and expertise, results in an unparalleled service experience that keeps our clients coming back for more.”
“We couldn’t be more pleased with how Greystone was able to put together the right resources and financing on this transaction,” said Mr. Steven D. May, principal of Bridgeview Multifamily. “Our goal is to delight our residents with a superior living experience, and we are thrilled that our Greystone team is helping us do that. We look forward to working with the team in the future.”
Greystone is a 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.