Greystone Provides $18.6M Agency Acquisition Loan for Fort Worth Multifamily Property

FORT WORTH, TEXAS — Greystone has provided an $18.6 million Fannie Mae acquisition loan for The Residences of Diamond Hill, a 204-unit multifamily property in Fort Worth. The garden-style community was built in 2003 and comprises 40 buildings that house two-, three- and four-bedroom units. Amenities include a fitness center, pool, outdoor grilling and picnic area, playground and an after-school program. The property is subject to land-use restriction agreements that limit resident incomes on 121 apartments, and more than half of the units at the complex are reserved for households earning below 30 or 60 percent of the area median income. John Williams of Greystone originated the loan, which carries a 10-year term, 35-year amortization schedule and interest-only payments for the first five years. The borrower and seller were not disclosed.