Greystone and Lappin Associates announced a joint venture to source billions in capital for financing of affordable housing.
The venture will source long-term, low-rate loans from Fannie Mae, Freddie Mac and HUD to owners of affordable multifamily properties, aiming to allow owners to complete renovations to preserve and maintain properties.
Greystone is a commercial real estate lending, investment and advisory company that provides HUD-insured loans. Greystone also provides Fannie Mae and Freddie Mac loans and is a general partner of America First Multifamily Investors, which manages more than $1 billion in assets consisting of mostly mortgage revenue bonds for multifamily affordable housing construction and permanent financing. Lappin Associates is an affordable housing advisory and development services firm, and is an affiliate of MLappin Associates, which was formed in 2014, and assists and advises on affordable housing policies and opportunities.
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