Greystone Arranges $20.9 Million Loan to Acquire Affordable Community Near Houston

by Channing Hamilton

PESADENA, TEXAS — Greystone has arranged a $20.9 million Fannie Mae multifamily affordable housing loan for the acquisition of Parkside Place, a garden-style affordable community in the Houston suburb of Pasadena. The borrower was not disclosed. Michael Zampetti originated the loan. Parkside Place comprises 321 apartments across 27 buildings on an 11.3-acre site. The property was consisted in 1969 and was renovated in 2018. Amenities include two pools, a laundry facility, business center, and private patios. Income restrictions for the community were not disclosed.

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