Greystone Provides $29.9M HUD Loan For Serenity Villas Senior Housing In Pomona

The property involved is Serenity Villas, a 174-unit affordable seniors housing property located at 158 E Bonita Ave, Pomona, CA, 91767. The asset is a senior housing complex, originally constructed in 2002. It offers one- and two-bedroom units across six mid-rise elevator buildings, catering to adults aged 55 years and older.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $29,900,000.00
• Market: Pomona
• Borrower's Rep: Shana Daby (greystone'>Greystone)
• Lender: Greystone

Shana Daby, a managing director with Greystone, was the representative for AMCAL in the loan transaction to refinance Serenity Villas. The HUD-insured loan of $29.9 million was secured at a fixed rate with a 35-year term and amortization. The loan proceeds will facilitate capital improvements, establish a debt service reserve, and leverage existing equity in the property. Additionally, the property includes Section 8 voucher units for eligible residents.