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Greystone Provides $221M Freddie Mac Credit Facility for Affordable Housing

New York-based Greystone provided a $220.8-million Freddie Mac credit facility to Woodland Park Property Owner, LLC. The financing is for Woodland Park, an 1,808-unit affordable housing project in East Palo Alto, CA.

Woodland Park consists of 118 individual land parcels, includes a mix of small properties and conventional multifamily and commercial assets, and presents a range of investment options. The project is managed by Sand Hill Property Company and its affiliate, Woodland Park Communities.

The facility carries a 5-year term with two 1-year extension options, and can be expanded up to $330 million.

Greystone’s Rob Russell originated the facility. CBRE Capital Markets’ John Nelson, and Erik Franks, advised the owner/borrower, Sand Hill Property Company.

For comments, questions or concerns, please contact Dennis Kaiser


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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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