Multifamily p Tennessee

Greystone closes $22 million refinance loan for 204-unit multifamily property in Memphis

grand-island

Greystone has provided a $22.5 million FHA-insured loan to refinance Grand Island Apartments, a 204-unit multifamily property in Memphis.

Greystone has provided a $22.5 million FHA-insured loan to refinance Grand Island Apartments, a 204-unit multifamily property in Memphis.

The loan was closed in under seven months through Fast-Track HUD processing. Jason Stein and Clint Darby of Greystone originated the loan.

The HUD loan carries both a 35-year term and 35-year amortization with a low interest rate.

Grand Island Apartments is a gated apartment community on coastal Mud Island in downtown Memphis with luxury amenities including a clubhouse, swimming pool, fitness center and movie theater.