What are HUD FHA 223f loans
Greystone: HUD-insured financing for multi-family home in Washougal
Greystone, a commercial real estate finance company, has a HUD-insured loan in the amount of 14.9 million USD to refinance an apartment building with 119 residential units in Washougal, Washington, provided. The funding was provided by Eric Rosenstock, General Manager, and Jesse Yodice, Vice President, in Greystone's New York office on behalf of Fortify Holdings financed.
HUD loans with a term of 35 years
The HUD insured funding under Section 223 (a) (7) of $ 14,934,800 has a term of 35 years with amortization and a low fixed rate. The loan refinances an existing HUD insured loan on the property.
With the year of construction 2009 the property has Lookout at Ridge Apartment Homes Over 119 well-equipped one-, two-, three- and four-room units with modern equipment and surfaces: combi washing machines / dryers, fireplaces and private outdoor living spaces. The pet-friendly townhouse-style community also offers residents a fitness center and garage. The property is located in Washougal's prestigious neighborhood Lookout Ridge and offers a wonderful view of the mountain. Hood and the Columbia River Gorge with easy access to shopping, dining, and outdoor recreation and parks including Vancouver Lake.
"With every customer, in every transaction, my team wants to demonstrate our in-depth multi-family know-how and our credit platform by offering an outstanding customer experience"said Rose bush. "In the current environment, we have found that the HUD product (a) (7) can be a quick and effective way for borrowers to lower their interest rate, gain value, and extend their payback."
"Eric's team is knowledgeable and efficient, and from start to finish our experience has exceeded our high expectations"said Sean Keys, Principal of Fortify Holdings. “Greystone provided us with the right resources and funding in record time. We look forward to working with our team again on future transactions. "
Greystone is a privately held national commercial real estate finance company with an established reputation as a leader in multi-family and healthcare finance, ranked as the top lender in these sectors to FHA, Fannie Mae and Freddie Mac. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC, and / or other Greystone affiliates.
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