Greystone has provided $55,000,000 in HUD-insured loans to refinance three affordable housing properties in Fort Worth and McKinney, Texas. The financing was originated by Miryam Reinitz-Kops, Vice President, and Jon Morales, Managing Director of Greystone on behalf of Atlantic Housing Foundation, Inc. (AHF)
The three properties total 622 units: Quail Ridge (296 units), Silver Leaf (176 units), and Redbud (150 units), and offer amenities including community centers, playgrounds, and on-site laundry facilities. The HUD-insured financing enables long-term preservation and continued affordability for all three properties.
"These transactions reflect Atlantic Housing Foundation’s ongoing commitment to the long-term preservation of affordable housing in Texas,” said Michael Nguyen, President & CEO, AHF. “Through this vehicle, AHF was able to revitalize and invest back into the assets as part of AHF’s greater mission to extend the useful life of much-needed housing in the region.”
“Greystone has been a wonderful partner to work with. They have a great understanding of our mission to transform lives and communities through quality affordable housing. Greystone worked to accommodate our needs and deliver cost-effective financing that will enable us to reinvest back into our communities,” said Tim Cone, Director of Development, AHF.
“AHF is deeply invested in the success and future of its residents,” said Ms. Reinitz-Kops. “Programs like 'Good Grades' offer rent incentives for families whose school-aged children achieve high marks and perfect attendance, reinforcing their belief in the power of education and community-building.”
“It is truly gratifying to help clients such as AHF to succeed and grow by optimizing their portfolios,” added Mr. Morales.