Greystone, a leading provider of financial services, recently secured a $25.2 million Freddie Mac Optigo loan for the refinancing of a 240-unit multifamily property in Valparaiso, Indiana. The loan has a fixed rate and 10-year term with a 30-year amortization schedule.
Dan Sacks and Eric Rosenstock, both Senior Managing Directors at Greystone, originated the financing on behalf of Bayshore Properties. With their extensive experience in the industry and strong relationship with Bayshore Properties over the years, they were able to successfully secure this financing deal. This is not their first collaboration as just last month they closed another transaction for Bayshore’s nearby 432-unit multifamily property located in Crown Point.
Andover Park Apartments was built in 1973 and consists of ten two-story residential buildings spread across an expansive area spanning over14 acres. The community boasts amenities such as swimming pool,tennis courts,and playgrounds making it an attractive living option for residents.Additionally,the location next to Rogers-Lakewood Park provides easy access to downtown areasand Valparaiso University.This latest development adds yet another successful projectto Greystone’s portfolioof quality multifamily assets.
