NEW YORK, NY - Greystone, a leading national commercial real estate finance company, has provided a $45 million Freddie Mac Optigo(R) Targeted Affordable Housing (TAH) loan to refinance a newly-constructed 306-unit multifamily property in Fort Worth, Texas. The financing was originated by Cary Tremper, Managing Director at Greystone, on behalf of Enclave Park, LP.
The $45,000,000 Freddie Mac loan carries a 10-year term, a low fixed interest rate, five years of interest-only payments, and a 30-year amortization period.
“Texas, and Fort Worth in particular, are all making great effort to increase affordable housing stock,” said Mr. Tremper. “While there are new challenges in closing transactions during a pandemic, it’s gratifying to get across the finish line for our clients. Freddie Mac offers an excellent long-term construction exit option that also helps meet their affordability goals, so it’s a win-win for residents, the owner, and Freddie Mac.”
About Greystone: Greystone is a real estate lending, investment, and advisory 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. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates.