Transactions

Belmere Luxury Apartments

Greystone provided $24.3 million in HUD financing for Belmere Luxury Apartments in Houma, Louisiana. The refinancing was structured as a 40-year fully amortizing FHA 223(a)7 loan. Belmere Luxury Apartments, located approximately 60 miles southwest of New Orleans, is a gated, limited access multifamily rental community comprising 249 units. The complex features amenities such as a resort-style pool, jacuzzi, fitness center, jogging trail, BBQ area and dog park.

“Securing this refinancing through Greystone enables us to maintain a long-lasting presence for Belmere as a premier luxury apartment community in the suburban New Orleans region,” said Robert M. Aiello, the borrower of record in partnership with Ronald V. Turner. “The lending process was incredibly smooth. We look forward to developing more luxury properties which are seeing greater demand in today’s recovering economy. We also look forward to having Greystone as a trusted partner going forward,” Aiello added.

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