Greystone Provides $33.6M Acquisition Financing for Affordable Housing in Stamford
STAMFORD, CONN. — Greystone has provided a $33.6 million acquisition loan for Park Square West, a 143-unit, affordable housing community in Stamford. Dan Sacks of Greystone provided the financing to a New Jersey-based borrower who purchased the property for $42 million. The Fannie Mae acquisition financing features a 12-year fixed rate and five years of interest-only payments. Built in 2001, 20 percent of the units at the property are reserved for renters earning 50 percent of the area median income. Amenities at the community include a rooftop sundeck, fitness center and gated parking.