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Affiliates of Greystone along with Cushman & Wakefield have collaborated on four affordable housing acquisitions in SC totaling $118 million.

Greystone Affiliates, Cushman & Wakefield Collaborate on $118M in SC Affordable Housing Transactions

Greystone Affordable Development, Greystone Housing Impact Investors, LP and Cushman & Wakefield have collaborated with two separate non-profit entities on four affordable housing acquisition and rehabilitation development transactions in SC totaling $118 million.

Greystone Affordable Development, working with Opportunity South Carolina on three separate acquisitions as the developer of record, partnered Greystone Housing Impact Investors, LP to identify an acquisition financing solution via tax-exempt mortgage revenue bonds. On a fourth, separate $31 million transaction with Greenville Housing Fund, Greystone Affordable Development originated a financing solution via Greystone Housing Impact Investors, LP, where Greystone Affordable Development will also serve as developer.

John Phoenix, Austin Green and Ricky Gore of Cushman & Wakefield represented the sellers of all four properties:

  • The Park at Sondrio in Greenville, SC, comprising 271 units and acquired for $38.1 million
  • The Park at Vietti in Spartanburg, SC, comprising 204 units and acquired for $26.9 million
  • Windsor Shores in Columbia, SC, comprising 176 units, acquired for $22.4 million
  • The Ivy in Greenville, SC, comprising 212 units, acquired for $30.5 million

Greystone Housing Impact Investors LP — an affiliate of private national commercial real estate finance company Greystone — invests in mortgage revenue bonds and governmental issuer loans that contribute to the creation of new affordable housing by providing construction and/or permanent financing for new and substantially rehabilitated affordable housing development communities. Greystone Affordable Development, also an affiliate of Greystone, is a national mission-driven affordable housing developer.


Inside The Story

Cushman & Wakefield's Phoenix

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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