Lending - FHA - $27.5M
Greystone provided a $27,534,300 HUD loan to refinance a 340-unit apartment community in Canton, Mich. The transaction was originated by Fred Levine.
The 35-year FHA financing was provided for Wyndchase Apartments, a luxury townhome and apartment complex offering one-, two-, and three-bedroom units and amenities such as a fitness center, pool, and community clubhouse. One of Singh Development LLC’s signature properties, Wyndchase is part of a portfolio of multifamily and seniors housing holdings across Michigan, North Carolina and Virginia.
“Greystone has been a long-time lending partner of ours for over a decade. We were thrilled to replace three separate loans on three separate phases with one very long-term, low rate loan through HUD,” said Mony Malhotra, VP Finance for Singh Development LLC. “Greystone’s ability to deliver on all levels with a strong emphasis on building deep relationships with its borrowers is a perfect match for our firm. Singh Development prides itself on building and managing superior multifamily projects and on developing strong bonds with firms like Greystone.”