PORT ST. LUCIE, FL—K&J Residential Grouphas secured $32.5 million in HUD financing from New York City-basedGreystone to refinance its KittermanWoods luxury rental apartment property here.

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

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“We couldn't be more thrilled with the outcome of the financingGreystone provided, and their expertise was beyond invaluableduring the process of securing our first HUD loan,” saysJeff Nudelman, principal at K&J ResidentialGroup.

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Betsy Vartanian, head of FHA lending atGreystone, adds, “It's a pleasure to help multifamily propertyowners such as K&J Residential Group to secure long-term HUDfinancing, which, at still-low interest rates today, will certainlyhelp benefit Kitterman Woods and its residents for years tocome.”

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.