Greystone, a leading national commercial real estate finance company, has provided a $115,000,000 Freddie Mac loan to refinance Courtlands on the Park, a 918-unit multifamily apartment community located in Des Plaines, Illinois. The financing was originated by Greystone’s Eric Rosenstock, Senior Managing Director, on behalf of CLK Properties, a repeat client.
Built in 1973, Courtlands on the Park in Cook County is a garden style apartment community consisting of 153 buildings with 913 one- and two-bedroom units that have been recently renovated with modern appliances and finishes. Property residents enjoy access to amenities such as a playground, dog park, grilling stations and on-site parking. The $115,000,000 non-recourse, fixed-rate Freddie Mac loan, which features a 5-year term and 30-year amortization along with three years of interest only payments, refinances the bridge financing used to acquire the property in 2019, and enables the borrower to use a portion of the equity in the property.
“We are thrilled that we were able to provide our client with a permanent solution that enables them to continue to realize their vision for the property,” said Mr. Rosenstock. “We deeply appreciate when clients trust Greystone with multiple properties in their portfolio and we work tirelessly to beat their expectations every time.”
“Our Greystone team understands the complexities of multifamily financing in every market cycle,” said Mr. Craig Koenigsberg, CEO of CLK Properties. “Greystone’s commitment to excellence and client care are evident at each transaction, and we look forward to working together again in the future.”
Greystone, a leading national commercial real estate finance company, has provided a $36,595,000 Freddie Mac loan to refinance a 476-unit garden-style multifamily community located in Houston, Texas. The financing was originated by Gill Dolan, Managing Director at Greystone.
Originally developed in 1966, the property offers renovated apartments and townhomes with one-, two- and three-bedroom layouts. The $36,595,000 Freddie Mac loan carries a fixed 5-year term and features full-term interest-only payments. The financing replaces a floating-rate bank loan and enables continued property renovations. Since acquiring the property, the sponsor has undertaken extensive capital improvements, including HVAC, roofing, and electrical upgrades, in addition to interior unit renovations.
“This refinance allowed our client to secure long-term, fixed-rate financing while continuing to reinvest in a well-located asset,” said Mr. Dolan. “Freddie Mac’s flexible structure and Greystone’s deep understanding of the sponsor’s goals made this a seamless execution.”
Greystone, a leading national commercial real estate finance company, has provided a $46,000,000 Freddie Mac loan to refinance Madbury Commons, a student housing community located in Durham, New Hampshire. The financing was originated by Eric Rosenstock, Jesse Yodice and Yarin Amzalag, at Greystone.
The $46,000,000 fixed-rate financing carries a 10-year term and amortization, with full-term interest only payments.
Located in Strafford County, Madbury Commons is walking distance from the University of New Hampshire and downtown Durham. The student housing complex consists of 524 beds across 126 fully furnished residential units, with 45,000 square feet of commercial space on the ground level. The community offers modern student amenities, including a fitness center, and its prime location enhances walkability and access to campus.
“Greystone is committed to executing on transactions that enable our clients to provide quality housing in markets with extremely high demand—as is the case with student housing in many college towns across the country,” said Mr. Yodice. “Our comprehensive multifamily lending platform allowed us to structure a solution through Freddie Mac at terms that reflect both the strength of the sponsorship and the performance of this unique property.”
Greystone, a leading national commercial real estate finance company, has provided a $42,400,000 Freddie Mac loan to refinance Cortland on the River, a 237-unit multifamily community in Boise, Idaho. The transaction was originated by Clint Darby and Andrew Remenschneider of Greystone, in conjunction with BMO Bank as correspondent.
Located in Ada County, Cortland on the River is a mid-rise apartment community built in 2021, featuring well-appointed studio, one- and two-bedroom units and smart home features. Property amenities include a resort-style pool, fitness center, dog park, outdoor kitchen and on-site parking. The property benefits from strong sponsorship by Cortland, a national multifamily investment and management firm with an extensive agency lending track record. Despite rising cap rates, the property has maintained high occupancy and strong operating performance.
“Freddie Mac’s index lock provided Cortland with the flexibility to strike in a volatile rate environment while optimizing proceeds,” said Mr. Darby. “Greystone values the high-quality clients we continue to serve, and this addition to the portfolio is exceptional.”
Refinance Supports Continued Investment in Sloane Chelsea, a 266-Unit Apartment Building in the Heart of NYC
Greystone, a leading national commercial real estate finance company, announced the closing of a $30,000,000 Freddie Mac Conventional loan for Sloane Chelsea, a 266-unit high-rise multifamily property located at 360 West 34th Street in New York, NY. The financing was originated by Robert Meehan, Managing Director at Greystone.
Originally constructed in 1930 and fully renovated in 1996, Sloane Chelsea offers a mix of studio, one-, two- and three-bedroom units, along with upscale amenities including a fitness center, laundry facilities, private storage, and 24-hour attended lobby. Recent upgrades to the property include renovations to 180 units and planned elevator modernization. The property is located in Manhattan’s Chelsea neighborhood, steps from Penn Station, Madison Square Garden, and major retail and transit hubs.
“Sloane Chelsea is a prime example of long-term ownership and stewardship of a historic New York asset,” said Mr. Meehan. “We’re pleased to support the Kibel and Gardner families with a financing solution that allows them to continue enhancing the property’s value while preserving financial flexibility.”
Greystone, a leading national commercial real estate finance company, has provided $46,972,000 in Freddie Mac financing to refinance a two-property multifamily portfolio totaling 674 units in Houston, Texas. The financing was originated by Gill Dolan, Managing Director at Greystone.
The two Houston properties offer residents a range of well-maintained, garden-style apartment homes with access to amenities such as gated entry, onsite laundry facilities, dedicated parking, and outdoor communal spaces. Approximately 65% of the units across the portfolio have been renovated with modern finishes and upgraded fixtures, with additional improvements underway to further enhance quality of life. Strong occupancy rates reflect the properties’ appeal in a high-demand submarket within the context of Houston’s growing need for affordable multifamily housing.
“Greystone has shown time and again our ability to structure agency loans that fit our clients’ needs, especially in a market as competitive as Houston,” said Mr. Dolan. “These financings aren’t just about lowering rates or achieving proceeds—they’re about setting owners up for long-term success and improving the quality of housing in the communities we serve.”
