{"id":18208,"date":"2026-04-20T11:59:00","date_gmt":"2026-04-20T16:59:00","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-32-5-million-in-freddie-mac-financing-to-bayshore-properties-for-acquisition-of-aspen-ridge-apartments-in-west-chicago-illinois\/18208\/"},"modified":"2026-04-21T06:59:00","modified_gmt":"2026-04-21T11:59:00","slug":"greystone-provides-32-5-million-in-freddie-mac-financing-to-bayshore-properties-for-acquisition-of-aspen-ridge-apartments-in-west-chicago-illinois","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-32-5-million-in-freddie-mac-financing-to-bayshore-properties-for-acquisition-of-aspen-ridge-apartments-in-west-chicago-illinois\/18208\/","title":{"rendered":"Greystone Provides $32.5 Million in Freddie Mac Financing to Bayshore Properties for Acquisition of Aspen Ridge Apartments in West Chicago, Illinois"},"content":{"rendered":"
The financing was originated by Eric Rosenstock, Senior Managing Director at Greystone, on behalf of Bayshore Properties. <\/p>\n

Additionally, Mandelbaum & Associates, Inc. provided Bayshore Properties with a $5,500,000 preferred equity check to help support the acquisition.<\/p>\n

The community consists of 253 units across multiple residential buildings and offers a range of amenities, including a clubhouse, fitness center, swimming pool, and outdoor recreational spaces. Originally constructed in 1967, the property has undergone significant capital improvements in recent years, enhancing both unit interiors and common areas.<\/p>\n

Greystone structured the financing with a Freddie Mac conventional loan that was paired with preferred equity to facilitate the borrower\u2019s acquisition of the asset. The Freddie Mac financing carries a 10-year term with five years of interest-only payments, followed by a 30-year amortization schedule.<\/p>\n

\u201cAspen Ridge represents a well-maintained asset with strong in-place operations and meaningful upside through continued management and operational efficiencies,\u201d said Mr. Rosenstock. \u201cWe are pleased to deliver a comprehensive capital solution that enables our client to execute their acquisition strategy while positioning the property for long-term success.\u201d<\/p>\n

\u201cGreystone\u2019s deep understanding of our strategy enabled a smooth and efficient acquisition,\u201d said Nick Kozul, President of Bayshore Properties. \u201cAspen Ridge is a strong asset with solid fundamentals and value-add potential, and this structure positions us well to enhance the community and drive long-term performance.\u201d<\/p>\n

\u201cWe have a great working relationship with both Bayshore Properties and Greystone. Aspen Ridge Apartments is well positioned in Bayshore\u2019s portfolio of assets,\u201d said Jessica Mandelbaum, Managing Director of Mandelbaum & Associates.<\/p>\n

About Greystone<\/strong>
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 www.greystone.com<\/a>.<\/p>\n

PRESS CONTACT:<\/strong>
Alyson Nikulicz
alyson@influencecentral.com<\/a><\/p>\n

\"\"<\/div>\n","protected":false},"excerpt":{"rendered":"

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NEW YORK, March 31, 2026 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, announced it has provided $32,567,000 in Freddie Mac financing, for the acquisition of Aspen Ridge Apartments, a 253-unit multifamily property located in West Chicago, 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\/18208"}],"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=18208"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/18208\/revisions"}],"predecessor-version":[{"id":18214,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/18208\/revisions\/18214"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=18208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=18208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=18208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}