{"id":15114,"date":"2025-06-29T05:48:43","date_gmt":"2025-06-29T10:48:43","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-58-6-million-freddie-mac-loan-for-multifamily-property-in-illinois\/15114\/"},"modified":"2025-06-30T00:48:43","modified_gmt":"2025-06-30T05:48:43","slug":"greystone-provides-58-6-million-freddie-mac-loan-for-multifamily-property-in-illinois","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-58-6-million-freddie-mac-loan-for-multifamily-property-in-illinois\/15114\/","title":{"rendered":"Greystone Provides $58.6 Million Freddie Mac Loan for Multifamily Property in Illinois"},"content":{"rendered":"<div> The financing was originated by Greystone Senior Managing Directors Eric Rosenstock and Dan Sacks, on behalf of Bayshore Properties, a long-time Greystone client.  <\/p>\n<p>Built in 1968, <strong>Terraces of Elk Grove<\/strong> in Cook County is a garden-style community consisting of nine apartment buildings, including a clubhouse, with one- and two-bedroom units. The $58,605,000 non-recourse, fixed rate financing\u2014which refinances an existing Greystone bridge loan on the property\u2014features a 10-year term and 35-year amortization, with five years of interest-only payments. In accordance with Freddie Mac\u2019s Preservation program, 30% of the units are designated for households earning under 80% of Area Median Income (AMI).<\/p>\n<p>\u201cGreystone is committed to facilitating transactions that enable multifamily investors to provide quality, affordable housing to families in and around Chicago,\u201d said Mr. Sacks. \u201cOur wide range of lending platforms means that we have the right solutions for most any property finance need.\u201d <\/p>\n<p>\u201cWe\u2019re big fans of Greystone because of their extensive experience in multifamily lending and deep understanding of affordable housing in particular,\u201d said Mr. Nikola Kozul, principal of the borrower. \u201cOn every transaction, Greystone exceeds our expectations with financing solutions that work to the benefit of the families who call our properties \u2018home\u2019.\u201d<\/p>\n<p align=\"justify\"><strong>About Greystone<\/strong><br \/>Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and\/or other Greystone affiliates. For more information, visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=E4SqWaGuLwyxK7ueLPZHT6IOEySGWhWdhhUkFa9jPeMdJhg-Hdt5HtmJ-uGz5_7nQdbluVkKnVLgwvukOBptzKpmj37xpSqbfFZs29xaTT8=\" rel=\"nofollow noopener\" target=\"_blank\" title=\"www.greystone.com\">www.greystone.com<\/a>.<\/p>\n<p align=\"justify\"><strong>PRESS CONTACT:<\/strong><br \/>Karen Marotta<br \/>Greystone<br \/>212-896-9149<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=d_M5SkHYENl0ZCPAvTG25W2eaL506PlKosAZAp60EAJ5wzonopDbIyQrnHNKfqCoWOqtd_9Lz6EnU0EnDpYumaB3ddreb-tPcbuZ9deEsbaJC78U4zd-vtrXlKIbFwbh\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Karen.Marotta@greyco.com\">Karen.Marotta@greyco.com<\/a><\/p>\n<p><img alt=\"\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-src=\"https:\/\/ml.globenewswire.com\/media\/ZTkwZmM5MjctZDA5YS00OWE5LTk0ZmEtODFiNzU4Nzk5YWY2LTEwMzQ5NDgtMjAyNS0wNi0wNS1lbg==\/tiny\/Greystone.png\"><\/div>\n","protected":false},"excerpt":{"rendered":"<div>\n<p align=\"left\">NEW YORK, June 05, 2025 (GLOBE NEWSWIRE) &#8212; Greystone, a leading national commercial real estate finance company, has provided a $58.6 million Freddie Mac Workforce Preservation program loan to refinance a 427-unit multifamily property in Elk Grove Village, Illinois.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/15114"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=15114"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/15114\/revisions"}],"predecessor-version":[{"id":15121,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/15114\/revisions\/15121"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=15114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=15114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=15114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}