Cushman & Wakefield and Greystone Close $20.8 Million FHA/HUD Loan for HELIO Apartments Refinance in Kearny, New Jersey

Greystone has provided a $20,766,500 FHA/HUD-insured loan to refinance HELIO Apartments, a newly completed 69-unit multifamily property located in Kearny, New Jersey. This financing was originated by Eric Rosenstock, Senior Managing Director, and Jesse Yodice, Director, at Greystone, in collaboration with Alan Blank, Managing Director of Cushman & Wakefield’s Equity, Debt & Structured Finance (EDSF) team.

HELIO Apartments consists of 69 studio, one-bedroom, and two-bedroom residences and includes modern amenities such as a fitness center and rooftop terrace, aimed at meeting the needs of renters in Northern New Jersey’s Hudson County market.

“Greystone is pleased to deliver a long-term FHA/HUD financing solution that supports the successful stabilization of HELIO Apartments,” said Yodice. “Working alongside Cushman & Wakefield’s EDSF team, we were able to structure a loan that aligns with the client’s objectives and the property’s strong fundamentals.”

Blank noted that the collaboration between Greystone and Cushman & Wakefield’s EDSF platform facilitated an efficient execution for this high-quality asset, stating, “HELIO represents a strong addition to the Kearny multifamily landscape, and this refinancing positions the property for continued success.”