Rich Properties Secures $161.4M for Multifamily Portfolio

Rich Properties has secured a total of $161.4 million in HUD-insured financing for a portfolio of seven properties across the United States. The portfolio spans five different states and comprise a total of 1,486 units.

The properties include: The Heights at Towne Lake in Woodstock, GA; Rosemeade Apartments in Southbridge, MA; Waterford Downs Apartments in St. Louis, MO; Ashborough Apartments in Raleigh, NC; Parkside Village in Clayton, NC; Ashbrook Apartments in Carrboro, NC; and Oakhampton Place Apartments in San Antonio, TX.

Greystone provided the HUD-insured financings over the past several months with transactions ranging from $13.2 million to $36 million.