December 20, 2016 Comments Off on Greystone Provides $221M Freddie Mac Credit Facility for Affordable Housing Views: 153 Bay Area, California, California News, West

Greystone Provides $221M Freddie Mac Credit Facility for Affordable Housing

New York-based Greystone provided a $220.8-million Freddie Mac credit facility to Woodland Park Property Owner, LLC. The financing is for Woodland Park, an 1,808-unit affordable housing project in East Palo Alto, CA.

Woodland Park consists of 118 individual land parcels, includes a mix of small properties and conventional multifamily and commercial assets, and presents a range of investment options. The project is managed by Sand Hill Property Company and its affiliate, Woodland Park Communities.

The facility carries a 5-year term with two 1-year extension options, and can be expanded up to $330 million.

Greystone’s Rob Russell originated the facility. CBRE Capital Markets’ John Nelson, and Erik Franks, advised the owner/borrower, Sand Hill Property Company.

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For comments, questions or concerns, please contact Dennis Kaiser

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