Greystone, a leading commercial real estate lending, investment, and advisory company, announced it has provided $23.7 million in HUD-insured financing for Hunter’s Cove Apartment Homes in Waxahachie, Texas. Ana Ramos, managing director in Greystone’s Los Angeles office, originated the transaction, the company announced in a release.
The permanent FHA financing for Hunter’s Cove carries a low, fixed interest rate and 30-year term and amortization period. It is a permanent exit from the bridge loan that Greystone had arranged in April of this year, which contributed to a 150 percent increase in Greystone’s YTD bridge loan volume over last year. Today, Greystone ranks as the No. 1 HUD lender for multifamily and healthcare loans.
Located just outside of Dallas, Hunter’s Cove Apartments features eight, three-story garden-style buildings with a combined 192 residences. The homes range from one- to three-bedroom units, all with lake views. In addition, residents have access to a clubhouse, fitness, center, dog parks, enclosed garages and a resort-style swimming pool, the release stated.
“Greystone’s bridge-to-HUD process is truly best-in-class, supported by a phenomenal team that seamlessly shepherds a borrower through two loan applications while enabling them to complete a smooth acquisition,” Ramos said in the release.