Greystone Secures $40M Freddie Mac Loan for Indiana Multifamily Property
Greystone, a leading real estate lending, investment and advisory company, has recently announced the provision of a $40.3 million Freddie Mac Optigo loan to refinance a 432-unit multifamily property located in Crown Point, Indiana. The financing was facilitated by Greystone’s senior managing directors Eric Rosenstock and Dan Sacks on behalf of Bayshore Properties.
The borrower acquired Hidden Creek Apartments with bridge financing in 2021 and has since invested over $725,000 in capital improvements for more than 25% of the units as well as exterior renovations totaling over $659,000.
Built in 1976, this property features one- and two-bedroom units spread across twelve residential buildings along with various community amenities such as a swimming pool, fitness room playground disc golf course clubhouse and ample outdoor space. The non-recourse fixed-rate loan from Freddie Mac amounts to $40.309 million with a term of ten years.
“Despite current challenges within the lending market,” stated Rosenstock “we are proud to continue providing exceptional service to our long-standing clients who are expanding their multifamily portfolio.”
