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| Courtyard Village at Raleigh Hills, Portland, OR |
New York, NY – April 11, 2012 – Greystone, a leading
national provider of multifamily and healthcare mortgage loans, today announced
that it has originated more than $43 million in HUD loans across four
properties in Oregon, Nebraska, Washington and Florida.
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| Betsy Vartanian |
The deals were overseen by Adam Sasouness, an
originator in the Greystone multifamily lending group.
One of the loans, Courtyard Village at Raleigh Hills,
was refinanced by Greystone in 2011. However with the unprecedented low
interest rates, it made sense to refinance again, further reducing the
borrower’s interest rate by 120 basis points. The project is a 179-unit senior
living community located in Portland, Oregon, which was refinanced for
$15,244,700 with a 29 year self-liquidating non-recourse loan.
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| Lauder Ridge Garden Apartments North Lauderdale, FL |
“As the largest multifamily lender of HUD insured loans,
Greystone provides loans in markets nationwide varying in size and scope. We
are very dedicated to finding the optimal financing structure to meet our
client’s needs and objectives,” said Betsy Vartanian, head of
Greystone’s FHA business.
She continued, “Even though all four loans faced significant
prepayment penalties, refinancing still made sense as interest rates are
currently at historically low levels, and the refinancing covered the
penalties.
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| Lexington Ridge Apartments Lincoln, NE |
“With the depth of our experience and resources, coupled
with the great opportunities affiliated with HUD insured financing, we are able
to arrange financing for our borrowers regardless of location or loan size and
provide them with competitive rates and attractive terms including
non-recourse.”
Greystone provided a $12 million loan to Lexington Ridge
Apartments, a 216-unit apartment complex located in Lincoln, Nebraska; a
$4.8 million loan to Heatherwood Apartments, a 66 unit property in
Tukwila, Washington; and a $11.2 million loan to Lauder Ridge Apartments,
a 152 unit property in located in North Lauderdale, Florida.
Greystone was the number one FHA lender in 2012 and is
ranked as a top-10 Fannie Mae lender. With more than 200 professionals
throughout the United States, Greystone is the multifamily and healthcare
mortgage lending expert and leader.
For a complete copy of the company’s news release, please
contact:
Loretta Mock/Josh Gerth
Cognito
+1 646 395 6300
