Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns 
FDA Fast-Tracks Approval of Altria’s on! PLUS Nicotine Pouches Under New Pilot Program 
Elon Musk Wins Reinstatement of Historic Tesla Pay Package After Delaware Supreme Court Ruling 
7-Eleven CEO Joe DePinto to Retire After Two Decades at the Helm 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
Dina Powell McCormick Resigns From Meta Board After Eight Months, May Take Advisory Role 
Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 
FedEx Beats Q2 Earnings Expectations, Raises Full-Year Outlook Despite Stock Dip 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
Boeing Seeks FAA Emissions Waiver to Continue 777F Freighter Sales Amid Strong Cargo Demand 
Roche CEO Warns US Drug Price Deals Could Raise Costs of New Medicines in Switzerland 
Elliott Management Takes $1 Billion Stake in Lululemon, Pushes for Leadership Change 
TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement 
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies 
NEW YORK, Dec. 19, 2016 -- Greystone, a real estate lending, investment and advisory company, today announced it has provided a $220,843,000 Freddie Mac credit facility to Woodland Park Property Owner, LLC. Woodland Park is a 1,808-unit affordable housing project located in East Palo Alto, CA. The facility was originated by Rob Russell, Head of CMBS production, of Greystone’s New York office.
The Freddie Mac credit facility is expandable up to $330,000,000, and carries a 5-year term with two 1-year extension options. The project is managed by Sand Hill Property Company and its affiliate, Woodland Park Communities. Woodland Park consists of 118 individual land parcels, includes a mix of small properties (1-50 units) and conventional multifamily and commercial properties, and presents a range of investment options.
“Today’s announcement underscores Freddie Mac’s commitment to provide our customers with flexible financing solutions, such as the revolving credit facility for Woodland Park, that also furthers our mission to preserve affordable rental housing. We are excited to join forces with the professionals at CBRE and Greystone on this important project in East Palo Alto,” said Lauren Garren, Vice President of Multifamily Products and Sales at Freddie Mac.
John Nelson, executive vice president, and Erik Franks, senior associate, of CBRE Capital Markets’ Debt & Structured Finance team served as advisors to the owner/borrower, Sand Hill Property Company, in the transaction.
"Greystone’s experience across a wide range of disciplines – affordable housing finance, structuring complex transactions, and commercial property portfolio guidance – all came into play throughout the timeline of this deal," said Joe Mosley, Executive Managing Director and head of Agency lending at Greystone. “Above all, our trusted relationship with Freddie Mac was the catalyst for closing this deal.”
About Greystone
Greystone is a real estate lending, investment and advisory company with an established reputation as a leading commercial mortgage lender, consistently ranking as a top FHA and Fannie Mae lender in multifamily and healthcare financing. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.
PRESS CONTACT: Karen Marotta Director of Communications, Greystone 212-896-9149 [email protected]
