Greysteel Secures Sale, Financing for Affordable Housing Community in Frisco

by John Nelson

FRISCO, TEXAS — Greysteel has arranged the sale and financing for Preston Trace, a 40-unit apartment community located at 8660 Preston Trace Blvd. in Frisco. Built in 1976, the garden-style property’s units are reserved for renters earning 50 percent or less of the area median income (AMI). Doug Banerjee, Boyan Radic, John Marshall Doss, Andrew Mueller, Andrew Hanson, Scott Simon and Jack Stone of Greysteel represented the undisclosed seller in the transaction. The Greysteel team also originated a Fannie Mae acquisition loan on behalf of the undisclosed buyer.

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