{"id":7873,"date":"2023-02-11T16:53:41","date_gmt":"2023-02-11T22:53:41","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-94-5-million-financing-for-131-million-multifamily-acquisition-in-chicago\/7873\/"},"modified":"2023-02-12T10:53:41","modified_gmt":"2023-02-12T16:53:41","slug":"greystone-provides-94-5-million-financing-for-131-million-multifamily-acquisition-in-chicago","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-94-5-million-financing-for-131-million-multifamily-acquisition-in-chicago\/7873\/","title":{"rendered":"Greystone Provides $94.5 Million Financing for $131 Million Multifamily Acquisition in Chicago"},"content":{"rendered":"<div> The financing was originated by Dan Sacks and Eric Rosenstock, Co-Managing Directors in Greystone\u2019s New York office, on behalf of Bayshore Properties.  <\/p>\n<p>Constructed in 1973, <strong>Stonebridge Luxury Apartments <\/strong>in Arlington Heights is a garden-style apartment community consisting of six buildings that offer one- and two-bedroom units. The $94,451,000 non-recourse, fixed-rate Fannie Mae loan carries a 10-year term and amortization, with full-term interest-only payments and 9.5 years of yield maintenance. In addition to the acquisition, loan proceeds enable the borrower to make improvements to the property.<\/p>\n<p>\u201cWe truly appreciate when clients repeatedly rely on Greystone and our deep resources for the multifamily properties in their portfolios,\u201d said Dan Sacks. \u201cWe work tirelessly to earn our clients\u2019 trust by leveraging our extensive financing platform to secure the right solutions and deliver an exceptional service experience on every transaction.\u201d<\/p>\n<p>\u201cWe keep coming back to Greystone because the team continues to outperform on every transaction with financing that addresses the particular needs of the properties in our portfolio,\u201d said Mr. Nick Kozul, Chairman of Bayshore Properties, a repeat client of Greystone. \u201cGreystone is a team with multifamily expertise that is simply unparalleled in this industry.\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=VvojcCbl_NAYaT-R4bjFmQxGy1_dFD2QB0gRXuzUEInUGjUJJet5GHtyAXxX5_fOBNhw6Iy71fK5E7-HQZP_Gw==\" 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=a51R1dmA6lpjU3VZ2RBi4NKakZ0sPudJR29VGkMDJZuaD81eYQQmD1kYK1WnFp70JG44uJKnzKIb1yCUbNxnrA8k1B_esRgc8J0Qvx4zxAY=\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Karen.Marotta@greyco.com\">Karen.Marotta@greyco.com<\/a><\/p>\n<p><img src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-src=\"https:\/\/ml.globenewswire.com\/media\/ZGY4NGJhOTMtZmNlNC00ZDFkLTljZmEtYmQ3MDM0NzFlM2YxLTEwMzQ5NDg=\/tiny\/Greystone.png\"><\/div>\n","protected":false},"excerpt":{"rendered":"<div>\n<p align=\"left\">NEW YORK, Jan. 17, 2023 (GLOBE NEWSWIRE) &#8212; Greystone, a leading national commercial real estate finance company, has provided a $94,451,000 Fannie Mae Delegated Underwriting &amp; Servicing (DUS\u00ae) loan for the $131 million acquisition of a 586-unit multifamily property in Arlington Heights, 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\/7873"}],"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=7873"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/7873\/revisions"}],"predecessor-version":[{"id":7896,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/7873\/revisions\/7896"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=7873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=7873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=7873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}