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12/20/16
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Greystone has provided a $220.8 mil Freddie Mac credit facility to Woodland Park Property Owner LLC. Woodland Park is a 1,808-unit affordable housing project located in East Palo Alto.
Woodland Park consists of 118 individual land parcels and includes a mix of small properties (one - 50 units) and conventional multifamily and commercial properties. It presents a range of investment options. The project is managed by Sand Hill Property Company and its affiliate, Woodland Park Communities.
The Freddie Mac credit facility is expandable up to $330 mil, and carries a five-year term with two one-year extension options. It was originated by Rob Russell of Greystone’s New York office. John Nelson and Erik Franks with CBRE Capital Markets’ Debt & Structured Finance team served as advisors to the owner/borrower in the transaction.
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