Greystone Affordable Housing Preservation Transaction Saves 830 Units of Affordable Housing in South Carolina.RALEIGH, N.C. -- Greystone Affordable Housing Initiatives (GAH GAH Ground Antenna Hardware ), a provider of advisory, financial, transactional management, and development services for the affordable housing industry, announced today that it successfully closed the preservation transaction on a state-wide Rural Development portfolio in South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures
Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. . Unique financing arrangements make this project the first of its kind and will ultimately make possible the rehabilitation of 830 housing, which are managed by Boyd Management Inc., among the largest and most highly regarded owner/management agents of US Department of Agriculture (USDA USDA,
n.pr See United States Department of Agriculture. ) Rural Development (RD) sponsored projects located throughout small rural markets of South Carolina, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures
Area, 52,586 sq mi (136,198 sq km). Pop. , and Georgia.
"Preservation projects are very complex and oftentimes overlooked by the construction and financing communities. But the necessity of preserving affordable housing in rural communities cannot be overstated o·ver·state
tr.v. o·ver·stat·ed, o·ver·stat·ing, o·ver·states
To state in exaggerated terms. See Synonyms at exaggerate.
o ," stated Tanya Eastwood, Senior Vice President, GAH. "We believe the Greystone finance structure is a model to preserve thousands of rural housing developments scattered across America. It is truly a mechanism that can provide the highly structured funding necessary to keep housing affordable while simultaneously rehabilitating aging structures critically needed for families and seniors for years to come."
GAH's recent activities focus on properties constructed primarily between the late 1970's and early 1990's and initially funded by USDA-provided RHS RHS Royal Horticultural Society
RHS Right Hand Side
RHS Rural Housing Service
RHS Rickards High School (Tallahassee, FL)
RHS Red Hat Society
RHS Ridgewood High School (New Jersey) Section 515 loan proceeds. These properties are now suffering from significant age with minimum capital reserves available for rehabilitation. Greystone facilitates and manages the acquisition, preservation, and rehabilitation of numerous projects in the U.S. South. Specifically, the company works with third parties to rebuild in small rural markets, such as South Carolina, North Carolina, Georgia and Tennessee.
About Greystone & Co., Inc.
Greystone & Co., Inc. together with its affiliated companies Affiliated Companies
A situation that occurs when one company owns a minority interest (less than 50%) in another company.
Also refers to companies that are related to each other in some way.
An affiliated company is sometimes referred to as a subsidiary. is a financial services and private investment company with expertise in a range of loan products, servicing, trading, securitization and transaction structuring.