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| Ravenwood of Kissimmee apartments, Kissimmee, FL |
New York, NY – Aug. 29, 2013 – – Greystone, a leading
national provider of multifamily and healthcare mortgage loans, today announced
it has originated a $6.652 million loan for Ravenwood of Kissimmee, a
185-unit multifamily property located in Kissimmee, Florida.
The deal was brought to Greystone by David Metzger of
Eastern Union Commercial and was completed by Andrew Ellis, originator
in Greystone’s Rockville, Maryland office.
Greystone will
service the loan provided through Freddie Mac’s Targeted Affordable Housing
(TAH) Program.
As a Freddie Mac Targeted Affordable Housing and Seniors Housing
Seller/Servicer, Greystone is one of a select number of firms able to
originate, underwrite and close affordable multifamily and seniors housing
loans on behalf of Freddie Mac.
“Greystone strives
to offer our clients a robust set of options to meet their financing needs,”
said Jeff Englund who leads the Affordable Housing group at Greystone.
“Our long-standing relationship with HUD, Freddie Mac and Fannie Mae, and our
range of CMBS and interim lending programs allow us to provide a full range of
financing solutions across the nation.”
Ravenwood of
Kissimmee is an Expiring Use Low Income Housing Tax Credits garden-style
apartment project, comprised of one, two, and three-bedroom floor plans. A Land
Use Restriction Agreement with the Florida Housing Finance Agency results in
100% of the units being restricted to households earning at or below 60% area
median income.
David Shweky, Managing Member of DLS Partners, LLC
said, “We enjoyed working with Greystone and Freddie Mac to acquire Ravenwood
of Kissimmee.
"We look forward to working with Greystone again as we continue to
focus on upside investments in Florida that will allow us to maximize
investment returns to our investors and provide affordable and enjoyable
housing to our tenants.”
For a complete copy of the company’s news release, please
contact:
Cognito
Loretta Mock/Josh Gerth
646 395 6300
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