Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Samsung Electronics Shares Jump on HBM4 Mass Production Report 
DBS Expects Slight Dip in 2026 Net Profit After Q4 Earnings Miss on Lower Interest Margins 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Anta Sports Expands Global Footprint With Strategic Puma Stake 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Kroger Set to Name Former Walmart Executive Greg Foran as Next CEO 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Taiwan Says Moving 40% of Semiconductor Production to the U.S. Is Impossible 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Innovent Biologics Shares Rally on New Eli Lilly Oncology and Immunology Deal 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
NEW YORK, Dec. 07, 2016 -- Greystone, a real estate lending, investment and advisory company, today announced it has provided a $15,900,000 Freddie Mac Targeted Affordable Housing loan for the permanent takeout of a Greystone bridge loan on the Highlander Point multifamily property in Riverside, CA. The loan was originated by Dale Holzer of Greystone’s Newport Beach, CA office.
The 132-unit workforce housing property in question is encumbered with a Bond Regulatory Agreement issued by the California Statewide Communities Development Authority, which restricts 20% of the units to household earnings 50% or less of area median income. Greystone navigated a number of various affordability components that restrict property operations, and ultimately provided a 7-year floating rate adjustable rate mortgage with 2 years of interest-only and 76% LTV with full cash-out. To date, the owner has invested $1.4 million in the property since acquisition, ensuring the 1975-vintage property is preserved for decades to come.
“Greystone’s knowledge in the affordable housing finance market is second to none, and we appreciate their expertise in navigating the nuances and inevitable hurdles involved in such complex acquisitions,” said operating partner Sol Rabin, Crystal Asset Management.
“The borrower was in great hands with Greystone’s experienced affordable housing lending team, which has deep experience with highly complex tax-exempt transactions and a seamless bridge to permanent financing platform,” said Mr. Holzer.
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 and Fannie Mae Affordable 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. For more information, visit www.greyco.com.
PRESS CONTACT: Karen Marotta Greystone 212-896-9149 [email protected]
