Greystone has provided an $18.85 million HUD-insured loan to refinance Ellwood, a 140-unit multifamily property located in Baltimore, Maryland.
The financing was originated by Avi Lifshitz, Managing Director at Greystone. The FHA-insured financing allows the borrower to secure long-term, fixed-rate debt for the asset while benefiting from the program’s non-recourse structure and favorable terms. Ellwood, located in a growing residential corridor of Baltimore, continues to offer essential housing for the local community.
“FHA financing remains one of the most powerful tools for multifamily borrowers looking to maximize loan proceeds,” said Mr. Lifshitz. “Greystone is proud to support our clients with the depth of experience needed to navigate the HUD process.”
Located at 101 the Ellwood Apartments and Lofts, is a redevelopment of a former 1933 high school turned into a residential space with 140 units. The property features a mix of studio, one, and two bedroom apartments.
The post Greystone Provides $19M in Financing for Baltimore MF Property appeared first on Connect CRE.
Gillian Executive Search is a leader Multifamily Apartment Development, Financing, Design and Construction recruiting. www.gessearch.com