News: Front Section
Posted: October 11, 2012
Greystone provides $21 million for multifamily refinancing deal for Windham Heights, a 350-unit affordable housing complex
Greystone Servicing Corp., Inc. has closed a $21 million refinancing deal for Windham Heights, a 350-unit affordable housing complex. Greystone has originated and will service the loan financed by the Freddie Mac Targeted Affordable Housing Mortgage Program. The deal was completed by Greystone's Affordable Housing team, led by Jeff Englund.
As a Freddie Mac Targeted Affordable Housing Seller/Servicer, Greystone is one of a select number of firms able to originate, underwrite and close on behalf of Freddie Mac, in addition to offering all affordable lending products available through the organization.
"Working with Freddie Mac allows us to further reach customers through a multitude of high-quality products," said Englund. "As Greystoneworks closely with a number of mortgage purchasing enterprises, we are able to offer the best programs for our clients, and we are excited to continue working closely with Freddie Mac and our other partners to serve the multifamily mortgage needs of the country."
Through the Freddie Mac Targeted Affordable Housing (TAH) Program, multifamily sellers originate loans for purchase by Freddie Mac as a part of the TAH network of correspondent lenders. Multifamily Targeted Affordable Seller/Servicers can sell and service Freddie Mac targeted affordable housing loans secured by properties located anywhere in the United States.
Greystone & Co., Inc. and its affiliates is a financial services and private investment group whose original core business is real estate lending. Over the years, Greystone has added business lines that are related to, and natural extensions of, its core business. Headquartered in New York with a presence in 35 states and 17 offices, Greystone is active in four major business segments: Mortgage Finance, Proprietary Investment, Healthcare and Real Estate. Greystone's mission is to apply unparalleled creativity while modeling corporate compassion.
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