Heritage Affordable Communities has acquired two multifamily properties in New York City with the help of Greystone, which provided $17.5 million in Fannie Mae loans for the acquisition. The transaction involves 151 units.
The majority of the loan went toward the acquisition of Highland Avenue Senior Apartments, an 88-unit midrise seniors housing apartment property in Yonkers, N.Y., which was constructed in 2008.
A smaller share of the Fannie Mae loan went to the acquisition of 2120 Hughes Ave., a 63-unit multifamily apartment property in the Bronx that was built in 1995.
