Greystone Provides $ 10.9 Million In HUD Funding For 174-Unit Vizcaya Villas Apartment Community In Miami, Florida
NEW YORK, NY – Greystone, a leading national commercial real estate finance company, has provided a $ 10.9 million HUD-insured loan to refinance a 174-unit multi-family property in Miami, Florida. The funding was initiated by Eric Rosenstock, Managing Director of the Greystone New York office, on behalf of Vizcaya Affordable Corp.
Section 223 (f) funding provided by the HUD of $ 10,915,700 has a term of 35 years and amortization of 40 years, as well as a low fixed interest rate. Built in 1997, Vizcaya Villas Apartments consists of two, four story elevator buildings with one, two, three and four bedroom units. Facilities include a community hall, picnic area and on-site laundry facilities. Located near the intersection of the Dolphin and Palmetto Freeways, the property offers easy access to Miami colleges and universities, employers, entertainment, restaurants, and shopping.
“We pride ourselves on guiding our clients through every stage of their project lifecycle, at every turning point in the market,” said Mr. Rosenstock. “Our multi-family expertise, coupled with our industry-leading service and transparent execution of every transaction, are the reasons our clients trust us throughout the lifecycle of their portfolios. “
“My Greystone team know that my properties are my passion and most importantly they understand that people need more than ‘housing’, they need homes,” said Lewis V. Swezy, Director of Vizcaya Affordable Corp. “Over the years, our experiences with Greystone have been nothing short of exceptional, so there is no reason to look elsewhere when it comes to finding the right financing for our portfolio of multi-family properties.
About Greystone: Greystone is a national commercial real estate finance company with an established reputation as a leader in multi-family and healthcare finance, having ranked among FHA’s top lenders, Fannie Mae and Freddie Mac in these industries. Loans are offered by Greystone Servicing Company LLC, Greystone Funding Company LLC and / or other companies affiliated with Greystone. For more information visit www.greystone.com