Centennial Management secures $22m for Florida affordable housing

Centennial Management secures $22m for Florida affordable housing

Published at: 2018-11-01 15:50 | Author: CIJ USA
Greystone has provided a $22m HUD-insured loan to Centennial Management for a affordable housing property in Miami Lakes, Florida. The 35-year fully amortizing loan, secured by Country Club Villas II, replaces a previous Fannie Mae mortgage. Built in two phases between 2000 and 2002, the property features 430 units. “With the incredible terms for HUD-insured loans — low, fixed rates and long terms — it’s a fantastic option for investors that focus on permanent holds in their portfolio,” said Eric Rosenstock, vice president of Greystone’s New York office.

Similar Stories:

Mosaic at the Forum in Fort Myers sells for $49.7m
Mosaic at the Forum, a newly developed, 252-unit apartment scheme in Fort Myers, Florida,  »
BCB secures $78m to refinance Manhattan resi portfolio
BCB Property Management has secured a $78m fixed-rate loan to refinance a six-building mul  »
Pip Cornish joins American Landmark Apartments as executive VP
Pip Cornish has been named executive vice president for the Eastern region at American Lan  »
Village at Hyde Park underway in Jacksonville
Village at Hyde Park, an 80-unit affordable housing development in Jacksonville, Florida,  »
Hurricane Hermine had the entire state of Florida on the edge of its seat in September. It   »
South Florida’s condo market is readying for a soft landing rather than the crash that m   »
There are approximately 17,000 units in Miami in presale, sold or under construction. Abou   »
The same year Orange County builders pulled 11,000. Fast forward to 2010 and those numbers   »