National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Greystone Completes $79M in Financing for Michigan Portfolio
Early Bird Alert: Connect Apartments is planned September 28th in Los Angeles. Here’s where to get more information and register.
New York-based Greystone provided the last of 13 total FHA loans for The Altman Companies, representing $79 million in financing. The communities are a blend of market rate and Section 8 multifamily properties located throughout Michigan, from as far north as the Upper Peninsula to the south east in Roseville.
In addition to The Altman Companies-owned properties, the refinanced portfolio includes one property owned by a private real estate group and two affordable housing communities, Charter Square and Green Hill apartments. Those assets are owned by The Boys & Girls Club Non-Profit Housing Corporation, with the proceeds going to The Boys & Girls Club of Lansing.
Greystone’s Lisa Fischman, who completed the portfolio refinancing, noted, “The timing for each refinance was ideal, as we were able to take advantage of low interest rates while providing a tremendous amount of funding for beautiful upgrades and restorations.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
