Greystone announced it has provided $20,700,000 in Fannie Mae financing for the acquisition of Heather Glenn Apartments, a 168-unit multifamily property in Fort Walton Beach, Florida. The financing was originated by Rob Meehan and Avrom Forman, Managing Directors at Greystone.
Heather Glenn Apartments, located in Okaloosa County, is a garden-style affordable housing community offering one-, two-, three-, and four-bedroom units. The property is located in the Crestview–Fort Walton Beach–Destin metropolitan area, providing residents with close proximity to major employment centers, military installations, retail amenities, and the Gulf Coast. The $20.7 million fixed-rate Fannie Mae loan carries a 5-year term.
“This acquisition underscores the continued strength of high-quality multifamily assets in growing Florida markets,” said Mr. Meehan. “We are pleased to be able to provide our client with a financing solution that supported their acquisition strategy and long-term vision for the property.”
“The Heather Glenn transaction highlights that Greystone is deeply committed to reliably and seamlessly delivering agency capital for acquisitions across a wide range of market types,” said Mr. Forman.