£20.7M Loan Secures Florida Apartment Complex Amid High Rental Demand
A 168-unit apartment complex in Florida has been acquired with the help of a £20.7 million loan. Heather Glenn Apartments, located in Okaloosa County, secured financing through Greystone's Fannie Mae programme. The deal highlights strong demand for well-placed rental properties in the region.
The financing was arranged by Rob Meehan and Avrom Forman, both managing directors at Greystone. They structured a fixed-rate, five-year loan totalling £20.7 million. The property's location near employment hubs, military bases, and retail centres made it an attractive investment for realtors.
Heather Glenn Apartments offers a mix of one-, two-, three-, and four-bedroom units. Its position along the Gulf Coast adds to its appeal for residents and investors alike. Greystone has emphasised its commitment to delivering agency capital efficiently, even in competitive markets.
The acquisition reflects ongoing confidence in Florida's multifamily sector. High-quality rental properties in growing areas continue to draw financing support. This deal follows Greystone's strategy of backing well-located apartments near me with stable demand.
The £20.7 million loan ensures long-term financing for Heather Glenn Apartments. The five-year term provides stability for the new owners. With its mix of unit sizes and prime location, the property is set to remain a key part of Okaloosa County's apartments for rent market.
