TAVARES, Fla. — Greystone has provided an $11.9 million Fannie Mae Multifamily Affordable Housing (MAH) loan for the acquisition of a senior living community in Tavares, a northwestern suburb of Orlando.
Carter King, managing director in Greystone’s Atlanta office, originated the transaction. Hallmark Lakepoint Senior LLC was the borrower.
Constructed in 2006, Lake Point Senior Apartments is a 160-unit, LIHTC, age-restricted, three-story apartment complex. The seller and total price were not disclosed.
The non-recourse, fixed-rate financing carries a 10-year term and 35-year amortization.