Tennessee Apartment Complex Receives $40.4 Million in HUD Financing From Greystone
March 13, 2014
Greystone announced it has provided a $40.4 million HUD loan to refinance Viera Cool Springs Apartments in Franklin, Tennessee. Donny Rosenberg originated the deal.
The FHA financing was structured as a non-recourse 35-year fully amortizing HUD 223(f) loan. Viera Cool Springs Apartments is a sprawling 468-unit market-rate townhome community. The property, built in 1987, is ideally located in the Cool Springs submarket within Nashville, equidistant from Memphis and Knoxville. The location benefits from a superb transportation network and is known as one of the premier business centers in the Southeast.
Greystone provides mortgage finance solutions across multiple platforms, including FHA, Fannie Mae, Freddie Mac, USDA, CMBS, bridge, mezzanine and other proprietary loan programs. In 2013, Greystone was ranked #1 in combined multifamily and healthcare FHA lending, ranked #1 in Small Loans and #3 in Affordable Housing as a Fannie Mae DUS lender in 2013, and is a top-5 Freddie Mac lender for seniors housing.