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Greystone Affordable Development has closed on a $120.5 million recapitalization and renovation project in Texas.

The transaction, which is Greystone’s first in the state, is in collaboration with Hamilton Valley Management out of Burnet, Texas. Greystone will utilize the Housing Credit to redevelop, modernize and secure affordable rental homes for thousands of Texans, the company said in a prepared release. The Hamilton Valley’s portfolio includes 23 USDA Rural Development Section 515 properties, which consists of 802 apartment homes that serve low-income households.

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Carley Beckum

Carley Beckum is part of the social media team at ALM.

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