Greystone has provided a $27.6 million HUD-insured loan to refinance a 228-unit multifamily property in Humble, Texas. The financing was originated by Eric Rosenstock, Managing Director in Greystone’s New York office, on behalf of Partin Properties, LLC.
The $27.6 million HUD-insured 223(f) financing carries a 35-year term and amortization, along with a low fixed interest rate. Originally built in 2016, Willowbend Apartments consists of 10, three-story buildings with one-, two-, three-bedroom units that offer modern appliances and finishes, in-unit washer/dryers, walk-in closets and private outdoor living spaces. Amenities include the pet-friendly community’s swimming pool, fitness center and clubhouse, business center, grilling area and outdoor kitchen, and on-site parking. Located near Spring Creek and Interstate 69 HOV, the property offers easy access to the area’s shopping, dining and entertainment hubs, major employers, downtown Houston, and the George Bush Intercontinental Airport.
“Greystone is here to see our clients through every phase of their project’s lifecycle and our deep multifamily lending platform can address all of their needs across the capital stack,” said Mr. Rosenstock. “We strive to exceed client expectations with our service, attention to detail and seamless execution, making the Greystone experience unlike any other.”
Greystone ranks as the #1 commercial lender for HUD-insured loans*, with the experience and knowledge for a well-executed lending experience that exceeds clients’ expectations.
“After decades working in all facets of the multifamily industry across the country, I can say with authority that Greystone’s finesse and ability to transact where others fall short is second to none,” said Mr. Jeff Partin, principal of Partin Properties, LLC. “Through every phase of this transaction, our team managed the details as if the property were their own. Greystone’s energy and enthusiasm are infectious, and their passion and perfectionism will keep us coming back in the future.”