AMCAL Equities, LLC, has landed $49 million in construction financing for the development of Katy Apartments, a multifamily community located in Katy, Texas.
Greystone provided the loan under HUD’s 221 (d) (4) program. Shana Daby, a managing director at Greystone, originated the debt, structured as a non-recourse, fixed-rate construction loan that converts to a 40-year, fully-amortizing permanent loan when the property stabilizes and finances roughly 85 percent of the total project costs.
The article originally appeared in the Commercial Observer. Visit that news website to read more of the article.
