Greystone and HAND Housing Partner to Bring Financing Solutions to BIPOC Developers in the Mid Atlantic Region


Receive instant alerts for news on your actions. Claim your 1-week free trial for StreetInsider Premium here.


NEW YORK and WASHINGTON, April 01, 2021 (GLOBE NEWSWIRE) – Gray stone, a leading national commercial real estate finance company, and the Housing Association of Nonprofit Developers (HAND), the capital region’s premier member association advocating for the production and preservation of affordable housing, they’ve thrown Equity in action, a partnership to increase access to working capital for real estate developers and investors in the Black, Indigenous and Colored (BIPOC) community. As part of an exclusive benefit to HAND, BIPOC developers will have direct access to consulting and financing solutions for the construction, refinancing, recapitalization and acquisition of affordable housing, including access to Greystone’s # 1 ranked FHA lending platform.

Through education, engagement and regional advocacy, HAND strengthens the capacity of its collective of cross-sector members to support the development of equitable communities for individuals and families at all income levels. As HAND’s premier financial partner, Greystone will deliver tailored solutions for the creation and preservation of collective housing and community development projects, accelerating both opportunities and access for HAND’s membership base. Additional benefits for members include strategic reviews of CRE’s portfolio, restructuring advisory services and expertise on Low Income Housing Tax Credit (LIHTC) and affordable housing bond financing solutions.

Mid-Atlantic Focus tackles immediate regional affordability crisis

According to recently launched HAND Housing indicator tool, the DC region created only 12% of the new affordable units that the Urban Institute said are needed by 2030 to meet demand.

“In Washington and surrounding Maryland and Virginia, the affordability crisis has been exacerbated by the pandemic and economic setbacks. Add to this that black and brown real estate developers still face the barrier of basic access to the capital needed to execute their community revitalization plans, ”said Heather Raspberry, Executive Director of HAND. “We are happy to partner with Gray stone to provide a membership benefit designed to increase opportunities for the BIPOC community as well as to increase awareness and education of the options available in the institutional market.

“Greystone is delivering on its commitment to help reduce barriers to access to capital for communities of color and beyond, and we are focused on bringing the benefits of our debt and equity solutions to the groups who do.” need them most, ”said Steve Rosenberg, Founder and CEO of Greystone. “HAND’s membership is aligned with our own mission of preserving and creating affordable housing they desperately need, and we are delighted to create a direct access point for them to benefit from financing and advisory services for help them achieve their goals. We hope that this partnership with HAND will serve as a model to create access to finance for other BIPOC commercial borrowing communities nationwide. “

About GreystoneGreystone is a national private commercial real estate finance company with an established reputation as a leader in multi-family and healthcare finance, having been ranked among the top lenders by FHA, Fannie Mae and Freddie Mac in these sectors. Loans are offered by Greystone Servicing Company LLC, Greystone Funding Company LLC and / or other companies affiliated with Greystone. For more information visit www.greystone.com.

About MAIN Founded in 1991, HAND is a nonprofit of more than 450 organizations working in the private, public and nonprofit sectors to collaborate in the production and preservation of affordable housing in the Baltimore Capital Region. , Washington and Richmond. Through education, engagement and regional advocacy, HAND strengthens the capacity of its diverse members to support the development of sustainable communities for individuals and families at all income levels. Visit www.HandHousing.org to learn more about HAND’s efforts to build vibrant communities across the metro area.

PRESS CONTACT:Karen MarottaGreystone212-896-9149[email protected]

Source: Gray stone

Source link

About Christopher Rodgers

Check Also

Epic Games’ new recruit has investors asking questions

Fortnite prints money for Epic Games, and we’re not talking about V-bucks. According to NielsenSuperData, …

Leave a Reply

Your email address will not be published. Required fields are marked *