Dealmaker: Greystone Provides $32 Million for Texas Multifamily

(The Villas at Foxbrick, Humble, Texas.)

Greystone, New York, provided a $32.1 million Fannie Mae Delegated Underwriting & Servicing loan for The Villas at Foxbrick, a 412-unit multifamily property in Humble, Texas.

Anthony Cristi, Managing Director with Greystone, originated the financing, with Gregory Vassilakos of Cosmos Capital Group acting as correspondent.

Constructed in 2004, The Villas at Foxbrick in Harris County is a 24-building garden-style apartment community that offers one- and two-bedroom units. The non-recourse, fixed-rate financing carries a seven-year term and 30-year amortization.

In addition to refinancing, loan proceeds enable the borrower to monetize a portion of their equity in the property.