July 5, 2017 Comments Off on Greystone Completes $79M in Financing for Michigan Portfolio Views: 552 Michigan, Midwest, National News

Greystone Completes $79M in Financing for Michigan Portfolio

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New York-based Greystone provided the last of 13 total FHA loans for The Altman Companies, representing $79 million in financing. The communities are a blend of market rate and Section 8 multifamily properties located throughout Michigan, from as far north as the Upper Peninsula to the south east in Roseville.

In addition to The Altman Companies-owned properties, the refinanced portfolio includes one property owned by a private real estate group and two affordable housing communities, Charter Square and Green Hill apartments. Those assets are owned by The Boys & Girls Club Non-Profit Housing Corporation, with the proceeds going to The Boys & Girls Club of Lansing.

Greystone’s Lisa Fischman, who completed the portfolio refinancing, noted, “The timing for each refinance was ideal, as we were able to take advantage of low interest rates while providing a tremendous amount of funding for beautiful upgrades and restorations.”

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