Greystone has provided $18 million in HUD-insured financing on a 138-unit multifamily property in Oro Valley, Arizona. The transaction was originated by Fred Levine, Managing Director at Greystone.
The $18,000,000 HUD-insured Section 223(f) financing for Oro Vista Apartments carries a 35-year term and amortization, along with a low, fixed rate. Located in Pima County, the community consists of one-, two-, and three-bedroom market rate apartments spanning 12 three-story buildings. Community amenities include a fitness room, outdoor swimming pool, playground and picnic areas.
“It’s comforting for our borrowers to know that with all of the uncertainty in today’s environment, HUD has remained a stable source for property investors that qualify for its long-term, low-rate financing,” said Mr. Levine. “As the clear leader in commercial HUD lending, Greystone delivers to clients what they have come to expect and more, something we are incredibly proud of.”