Greystone, a multifamily mortgage provider, provided $5.35 million in Department of Housing and Urban Development financing for the Sterling Pointe affordable housing community in Oxford, Ala., the company announced in a press release.
The housing community is located between Birmingham and Atlanta, Ga., and is a 144-unit affordable housing rental community built in 1974.
“The combination of low debt service and a 30-year term helps further our mission in preserving and providing housing for those who need it most,” said Douglas Trivers, CFO of HSI Management, Inc. “Greystone has been a trusted partner in helping HSI refinance and preserve our affordable housing communities, and Sterling Pointe is the latest example of a property that will benefit from our ongoing partnership,” he added.
