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Heather Glenn Apartments in Fort Walton Beach, FL

Greystone Provides $18M for Affordable Multifam in Panhandle’s Okaloosa County

Greystone has provided a $17.6 Freddie Mac Optigo Targeted Affordable Housing (TAH) loan to acquire a 168-unit affordable housing property in Fort Walton Beach, FL. The loan was originated by Carter King in Greystone’s Atlanta office, on behalf of The Hallmark Companies, Inc.

The loan carries a 10-year term and 30-year amortization at a variable interest rate, with interest-only payments for the first five years. The property has LITHC, Bond and SAIL land use restriction agreements in place that require limits on tenant income and rent restrictions for all units.

Constructed in 2004, Heather Glenn Apartments is a seven-building, garden-style apartment complex in Okaloosa County. The gated entry community is located near major roadways and Interstate 10, with easy access to Fort Walton Beach and Northwest Regional Airport.

“Greystone is passionate about seeing affordable housing communities thrive and we always rise to the challenge of helping clients secure the right financing terms for these deals,” said King.


Inside The Story

Greystone's King

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 he makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
  • ◦Financing