1 Reason Insurance

Leadership Through Service

  • About
    • Meet Our Agents
    • Partner Insurance Companies
  • Personal Insurance
    • Car Insurance Quote for Personal Auto
    • Boat Insurance
    • Home Owners Insurance Application
    • Life Insurance Quotes
    • Motorcycle Insurance
    • Personal Umbrella Insurance
    • Renters Insurance
    • RV Camper Insurance
    • Snowmobile Insurance
  • Business Insurance
    • Commercial Auto Insurance
    • What is General Liability Insurance
    • Rental or Vacant Properties
    • Workers Compensation in Wisconsin
  • Blog
  • Contact 1 Reason Insurance
    • Contribute As Guest Author
Home > Real Estate News > Greystone Provides $54.6 Million in HUD-Insured Financing for a Multifamily Property in Chicago Metropolitan Area

Greystone Provides $54.6 Million in HUD-Insured Financing for a Multifamily Property in Chicago Metropolitan Area

Posted on: December 16, 2020 By: Real Estate News

NEW YORK, Dec. 16, 2020 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a $54.6 million HUD-insured loan to refinance a 360-unit multifamily property in the northwest Chicago metropolitan area suburb of Bloomingdale, Illinois. The financing was originated by Clint Darby, Managing Director, and Phiet Nguyen, Managing Director, on behalf of Chern Camden.

The $54,560,000 HUD-insured Section 223(f) financing carries a 35-year term and 35-year amortization, along with a low fixed interest rate. The transaction qualified for HUD’s Green financing via Energy Star certification, which further reduced the interest rate. The loan proceeds enabled the borrower to refinance an existing Fannie Mae loan on the property, continue with ongoing maintenance, and monetize existing equity.

Built in 1991, Camden at Bloomingdale consists of 19 garden-style apartment buildings offering one-, two- and three-bedroom units with modern amenities and appliances, in-unit washers/dryers, vaulted ceilings, fireplaces and private outdoor living spaces. Amenities include a clubhouse and business center, fitness center, pool, outdoor sports courts, picnicking grounds and playground areas. The property’s location offers easy access to downtown Chicago and Chicago O’Hare International Airport, and is close to restaurants, shopping at Stratford Square, and nearby recreation centers and parks, including the Mallard Lake Forest Preserve.

“Our team’s extensive HUD platform and knowledge of the multifamily space means that we will always deliver a transaction experience that far exceeds the industry standard,” said Mr. Darby. “We commit to taking a creative, collaborative approach to uncovering the right terms for each client, to bring their unique projects to life.”

“I am truly impressed with Greystone’s speed and care in putting together the right resources and financing for this transaction,” said Mr. Paul Chernawsky, principal of Chern Camden. “Greystone’s service standard is of the highest caliber and I was extremely impressed with the loan processing experience.”

About Greystone
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.

PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com

Categories: Real Estate News

1Reason Agencies

What clients have to say:

Mike T. "I started a business last year and Robert responded to my inquiries immediately, and was extremely helpful and knowledgeable as to the type of insurance coverages I would need to get started. Now its been a year and he now carries All of my coverages! Absolutely the most hands on agent I've ever worked with but hands down the friendliest! I can call him anytime and never feel rushed and not only that but he responded while on a family vacation. I believe in relationships in business and so does Robert by the way he treats his customers. I have a true friend in the business, thank you Robert!"


Lynn R. "Bob is very knowledgeable and has always done a great job explaining different aspects of coverage. He is very accessible and looks out for what is best for the consumer. We highly recommend him!


Justin T. "Excellent agent, always available for answers to insurance related questions. Bob, is the person most people strive to become. Without a doubt, a great person!"


Sebastian T. "I can not begin to tell you how pleased I am with 1 Reason Insurance ! Their responding services is friendly and complete. For the services my company offers to the public it is sure nice to know that we are covered for a reasonable fee. Just having (1 R I ) 1 Reason Insurance there is such piece of mind ! Their insurance plans are strait to the point and easy to understand.
Thanks for the great service 1 Reason Insurance !"


Jeff H. "Very nice and cares about the customer! He was literally the reason why i chose him over other companies for my insurance"

Categories

  • Bonds
    • Performance Bond
  • Bookkeeping
    • Business Taxes
  • Business Marketing
    • Webhosting
  • Car Insurance
  • Commercial Auto
  • Commercial Insurance
  • Court Cases
  • Cyber Liability Insurance
  • Employment Opportunities
  • Employment Practices
  • Flood Insurance
  • Home Ownership
  • Homeowner's Insurance
  • Insurance Companies
    • Insurance News
  • Insurance Terms
  • Investing
    • Finance & Insurance News
  • Life Insurance
  • Non Emergency Medical Transportation
  • Payroll
  • Pinewood Derby
  • Real Estate News
  • Rental Property Insurance
  • Retirement & Estate Planning
  • RV Insurance
  • Starting A Business
  • Stock Dividends
  • SuiteCRM Insurance CRM
  • Tips & Advice
  • Travel
  • Uncategorized
  • Worker's Compensation

Recent Posts

  • Using ChatGPT Can Help Your Business Grow By Helping You Write SEO Friendly Content For Your Website
  • Buying Homeowners Insurance In Wisconsin
  • Starting a Michigan Taxi or Non Emergency Medical Transportation Business Is Expensive Because of Regulations
  • Armada Hoffler Announces Quarterly Dividend
  • LGI Homes Reports October 2022 Home Closings
  • Regency Centers Reports Third Quarter 2022 Results
  • Global System Dynamics, Inc. Announces Sponsor Funding of Initial Three-Month Extension to Complete its Initial Business Combination
  • Opendoor Announces Third Quarter of 2022 Financial Results