Affordable Housing Portfolio Acquisition in New York City

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Greystone provided a non-recourse $12,475,000 Fannie Mae loan to acquire Highland Avenue Senior Apartments, an 88-unit midrise seniors housing apartment property in Yonkers, which was constructed in 2008. The fixed-rate loan carries a 12-year term with a 30-year amortization and five years of interest-only payments.

Greystone also provided a fixed rate $5,098,000 Fannie Mae loan with a 10-year term and amortization, and full-term interest-only payments for the acquisition of 2120 Hughes Avenue, a 63-unit multifamily apartment property in the Bronx that was built in 1995.

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