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.
Read the story about it here.
Learn more about the project here.