Affordable Housing Boost: Greystone Injects $9.5M into D.C. Multifamily Project
Greystone Provides $9.5 Million Bridge Loan for Historic D.C. Affordable Housing Property
In a strategic financial move, Greystone, a prominent national commercial real estate finance firm, has secured a $9.5 million bridge loan to refinance the R Street Apartments, a 130-unit affordable multifamily property nestled near Washington, D.C.'s iconic Dupont Circle neighborhood.
The financing, skillfully orchestrated by Greystone Managing Director Jon Morales, was executed on behalf of The Hampstead Group, Inc., and National Housing Trust. The property, a historic gem dating back to 1912, represents a critical investment in preserving affordable housing in one of the city's most desirable areas.
This refinancing initiative underscores Greystone's commitment to supporting income-restricted housing developments that provide essential residential options for diverse community members.
The R Street Apartments transaction highlights the ongoing importance of strategic financial solutions in maintaining and revitalizing urban housing infrastructure.