PORT ST. LUCIE, FL—K&J Residential Group has secured $32.5 million in HUD financing from New York City-based Greystone to refinance its Kitterman Woods luxury rental apartment property here.

Kitterman Woods is a 396-unit luxury rental community. The property features two swimming pools, a fitness center, tennis, basketball, and volleyball courts, garage parking, and pet-friendly amenities. Greystone provided a 35-year fully amortizing FHA loan to K&J Residential Group to refinance the property. Reuben Dolny, a senior mortgage banker at the firm, originated the transaction. K&J Residential Group was represented by Steven Deutsch, partner at law firm Frank, Weinberg & Black in the deal.

“We couldn't be more thrilled with the outcome of the financing Greystone provided, and their expertise was beyond invaluable during the process of securing our first HUD loan,” says Jeff Nudelman, principal at K&J Residential Group.

Betsy Vartanian, head of FHA lending at Greystone, adds, “It's a pleasure to help multifamily property owners such as K&J Residential Group to secure long-term HUD financing, which, at still-low interest rates today, will certainly help benefit Kitterman Woods and its residents for years to come.”