Greystone Provides Nearly $50M Loan for San Antonio Property

Commercial lender Greystone provided the loan in order to refinance a 360-unit multifamily property. The Anthony at Canyon Springs consists of 37 stand-alone buildings with a wide variety of floor plans and amenities. The property will go through extensive renovations, both inside and out. Amenities include a clubhouse, resort-style pool, tennis court, putting green and exercise room.

The renovation will have an added bonus feature for the tenants. They will see a reduction in their utility bills, due to reduced consumption. The new energy savings features allowed Greystone to receive a 35-basis point reduction in Mortgage Insurance Premium for achieving green standards.

The financing was originated by Greystone’s Reuben Dolny, on behalf of the Bascom Group, a repeat client of the firm. The HUD-insured loan carries a 35-year term and a 35-year amortization.