Greystone Arranges $161M Portfolio Refi
Located in five states, the seven properties total nearly 1,500 units.
Ashborough Homes. Image courtesy of Greystone
Working on behalf of Howie Rich of Rich Properties, Greystone has arranged $161.4 million in HUD-insured financing for a portfolio of seven separate transactions comprising seven properties across five states. The portfolio encompasses a total of 1,486 units.
The deals were originated by Greystone Managing Director Eric Rosenstock and Vice President Jesse Yodice, ranging from $13.2 million to $36 million.
“The challenge in this portfolio refinance was that it took place over many months,” Rosenstock told Multi-Housing News, adding it progressed “throughout the COVID-19 pandemic and now, during a rising interest rate environment.”
Cross country
The properties are The Heights at Towne Lake in Woodstock, Ga.; Rosemeade Apartments in Southbridge, Mass.; Waterford Downs Apartments in St. Louis, Mo.; Ashborough Apartments in Raleigh, N.C.; Parkside Village in Clayton, N.C.; Ashbrook Apartments in Carrboro, N.C.; and Oakhampton Place Apartments in San Antonio, Texas. Greystone provided the financings over the past several months.
Located at 1395 Buckhead Crossing in Woodstock, The Heights at Towne Lake features one- through three-bedroom apartments with built-in bookcases, double crown molding and oversized windows. Common-area amenities include a business center. Situated at 657 Worcester in Southbridge, Rosemeade Apartments offers one- and two-bedroom apartments. Features include ceiling fans, fireplaces and walk-in closets. Among the common-area amenities is a basketball court.
With an address at 11502 Craig Street in St. Louis, Waterford Downs offers one- and two-bedroom apartments with vinyl wood plank floors, upgraded front cabinets and stainless steel appliances. The amenities include a picnic area. Located at 5406 Viewcrest Way in Raleigh, Ashborough Apartments offers one- through three-bedroom apartments featuring walk-in closets, stainless steel appliances and fireplaces. A complimentary coffee and snack station represents one of the amenities.
Situated at 950 Parkside Village Drive in Clayton, Parkside Village offers one- through three-bedroom apartments with entry closet, laminate flooring and Energy Star appliances. A pet play area is among the amenities. Featuring an address of 601 Jones Ferry Road in Carrsboro, Ashbrook Apartments offers one- and two-bedroom apartments with kitchen islands, framed mirrors and fireplaces. A Wi-Fi-equipped pool and clubhouse are among noteworthy amenities.
Located at 1983 Oakwell Farms Parkway in San Antonio, Oakhampton Place Apartments offers one- and two-bedroom apartments featuring frost-free refrigerators, doors with peepholes and storage space. A pool is among high-profile images.
Last month, Greystone arranged a $116 million refinancing for senior housing in Lincolnwood, Ill.
