Greystone, a leading commercial real estate lending, investment, and advisory company, announced it has provided a $2.4 million Fannie Mae loan to refinance an affordable housing multifamily property in Victorville, CA. The transaction was originated by Cody Field in Greystone’s San Francisco office, in coordination with the Housing Authority of the County of San Bernardino (HACSB).
The $2,411,000 Fannie Mae loan, which will be used to recapitalize acquisition financing in conjunction with city financing sources, carries a 30-year term at a fixed rate and is self-amortizing. The Hillcrest Court Apartments community is in Victorville, north of the city of San Bernardino outside of Los Angeles, and north of Mt. San Antonio and San Gorgonio mountain. The two-story apartment complex is comprised of 67 units and includes a pool, covered parking, and laundry facilities among its amenities.
Read MultifamilyBiz.com's article "Greystone Provides $2.4 Million to Refinance Affordable Housing in Southern California," featuring the Housing Authority of the County of San Bernardino.