Bayshore Properties Closes on $61.6 Million Capital Stack for Illinois Multifamily Property, Led by Greystone Freddie Mac Financing

NEW YORK, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, announced it has provided a Freddie Mac loan to refinance a 357-unit multifamily property located in Schaumburg, IL. The financing was originated by Eric Rosenstock and Dan Sacks, both Senior Managing Directors at Greystone, on behalf of Bayshore Properties.

Greystone provided a $55,620,000 five-year, interest-only Freddie Mac Optigo® loan. An additional $6,000,000 in preferred equity funds were provided by 7Acres at closing, totaling $61.6 million for the transaction.

21 Kristen Apartments is a condo deconversion that the borrower acquired in ...