Greystone has provided a $22m HUD-insured loan to Centennial Management for a affordable housing property in Miami Lakes, Florida. The 35-year fully amortizing loan, secured by Country Club Villas II, replaces a previous Fannie Mae mortgage. Built in two phases between 2000 and 2002, the property features 430 units. “With the incredible terms for HUD-insured loans — low, fixed rates and long terms — it’s a fantastic option for investors that focus on permanent holds in their portfolio,” said Eric Rosenstock, vice president of Greystone’s New York office.
