Greystone provided a $17,570,000 Freddie Mac Targeted Affordable Housing (TAH) loan for a 559-unit multifamily property in Tampa, Florida. The fixed-rate, non-recourse financing carries an 18-year term and a 35-year amortization. The property has LITHC, Bond and SAIL land use restriction agreements (LURAs) in place that require limits on tenant income and rent restrictions for all units.
Constructed in 2003 and 2005, Belmont Height Estates I and II is a 559-unit garden-style apartment complex in Tampa, Florida, that offers one-, two-, three- and four-bedroom units with a Boys and Girls Club onsite. Property amenities include three clubhouses, business center, community rooms, laundry rooms, basketball courts, fitness center, playground, pool, picnic area, service coordination, and after school programs.