FHA-insured financing supports newly completed 69-unit multifamily community
Greystone has provided a $20,766,500 FHA/HUD-insured loan to refinance HELIO Apartments, a newly completed 69-unit multifamily property in Kearny, New Jersey. The financing was originated by Eric Rosenstock, Senior Managing Director, and Jesse Yodice, Director, at Greystone, in collaboration with Alan Blank, Managing Director of Cushman & Wakefield’s Equity, Debt & Structured Finance (EDSF) team.
HELIO Apartments is a newly constructed multifamily community comprising 69 studio, one-bedroom, and two-bedroom residences. The property features modern amenities including a fitness center and rooftop terrace, designed to meet the needs of today’s renters in Northern New Jersey’s Hudson County market.
“Greystone is pleased to deliver a long-term FHA/HUD financing solution that supports the successful stabilization of HELIO Apartments,” said Mr. Yodice. “Working alongside Cushman & Wakefield’s EDSF team, we were able to structure a loan that aligns with the client’s objectives and the property’s strong fundamentals.”
Alan Blank added, “The collaboration between Greystone and Cushman & Wakefield’s EDSF platform enabled an efficient execution for this high-quality asset. HELIO represents a strong addition to the Kearny multifamily landscape, and this refinancing positions the property for continued success.”