Greystone Housing Impact Investors Funds $11.9M Loan For 40rty On Colony Development

Greystone Housing Impact Investors LP (GHI) has funded the construction and permanent financing of the 40-unit mixed-income development "40rty on Colony" in La Mesa, California. The project, located at 7385 Colony Drive, is a development site with a loan amount of $11,900,000. The loan, provided as a construction loan, has a term of 36 months with interest-only payments.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $11,900,000
• Lender: Greystone Housing Impact Investors LP (GHI) - Frank Bravo
• Landlord: GWMP Investments, LLC - Greg Wayer
• Brokers: Eliav Dan & Shana Daby - Greystone
• Loan Type: Construction Loan
• Loan Terms: 36 months, interest-only

The loan was provided by Greystone Housing Impact Investors LP (GHI) represented by Frank Bravo. The landlord, GWMP Investments, LLC, owned the development site located at 7385 Colony Drive in La Mesa. The transaction was facilitated by brokers Eliav Dan and Shana Daby from Greystone. The project, "40rty on Colony," aims to create a mixed-income development with 20% of the units designated for lower-income households. The financing for the project included tax-exempt and taxable bonds from the California Housing Finance Agency.