The asset involved in the transaction is the Heather Glenn Apartments, a 168-unit multifamily property located at 1600 Hunt Club Street in the Fort Walton Beach market. The property is situated in Okaloosa County within the Crestview–Fort Walton Beach–Destin metro area and benefits from a garden-style design.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $20,700,000
• Address: 1600 Hunt Club Street
• Market: Fort Walton Beach
• Units: 168
• Lender: Greystone
• Loan Originators: Robert Meehan & Avrom Forman
• Loan Type: Fixed-rate Fannie Mae loan
• Loan Term: 5 years

Robert Meehan and Avrom Forman acted as the loan originators for Greystone, which provided the fixed-rate loan for the acquisition of the property. The financing is tailored for the affordable housing community within the area, reflecting the ongoing initiatives to support such developments in the Fort Walton Beach market.