NEW YORK, March 17, 2025 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a $9,500,000 bridge loan to refinance a 130-unit affordable multifamily property in Washington, D.C. The financing was originated by Greystone Managing Director Jon Morales, on behalf of The Hampstead Group, Inc., and National Housing Trust.
Constructed in 1912 and located near the historic Dupont Circle neighborhood, R Street Apartments is an income- and rent-restricted LITHC property consisting of five, mid-rise buildings with one-, two-, and three-bedroom units. Greystone’s $9.5 million interest-only bridge loan carries a 36-month term with two 12-month extension options, enabling the borrower to refinance their existing loan and fund capital improvements while Greystone works to secure permanent financing on one of its industry-leading multifamily lending platforms, including Agency, HUD and/or LIHTC.
“Our bridge program is particularly attractive for affordable housing sponsors because of the many alternatives for seamlessly transitioning into permanent financing,” said Mr. Morales. “We are thrilled we can help our client realize their vision for this property while seeking a more permanent financing solution.”
“We have deep experience with multiple affordable housing properties and through the years have relied on our Greystone team for their creativity and expertise and navigating financing through various market cycles,” said Jeff Jallo, principal of The Hampstead Group.
Kevin White, Managing Director of Real Estate for National Housing Trust, added, “This transaction will help make an impact on the local community and we are thrilled with the outcome.”
About Greystone
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.
PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com
