NEW YORK, NY (March 31, 2026) – Greystone, a leading national commercial real estate finance company, announced it has provided $32,567,000 in Freddie Mac financing, for the acquisition of Aspen Ridge Apartments, a 253-unit multifamily property located in West Chicago, Illinois. The financing was originated by Eric Rosenstock, Senior Managing Director at Greystone, on behalf of Bayshore Properties.

Additionally, Mandelbaum & Associates, Inc. provided Bayshore Properties with a $5,500,000 preferred equity check to help support the acquisition.  

The community consists of 253 units across multiple residential buildings and offers a range of amenities, including a clubhouse, fitness center, swimming pool, and outdoor recreational spaces. Originally constructed in 1967, the property has undergone significant capital improvements in recent years, enhancing both unit interiors and common areas.

Greystone structured the financing with a Freddie Mac conventional loan that was paired with preferred equity to facilitate the borrower’s acquisition of the asset. The Freddie Mac financing carries a 10-year term with five years of interest-only payments, followed by a 30-year amortization schedule.

“Aspen Ridge represents a well-maintained asset with strong in-place operations and meaningful upside through continued management and operational efficiencies,” said Mr. Rosenstock. “We are pleased to deliver a comprehensive capital solution that enables our client to execute their acquisition strategy while positioning the property for long-term success.”

“Greystone’s deep understanding of our strategy enabled a smooth and efficient acquisition,” said Nick Kozul, President of Bayshore Properties. “Aspen Ridge is a strong asset with solid fundamentals and value-add potential, and this structure positions us well to enhance the community and drive long-term performance.”

“We have a great working relationship with both Bayshore Properties and Greystone. Aspen Ridge Apartments is well positioned in Bayshore’s portfolio of assets,” said Jessica Mandelbaum, Managing Director of Mandelbaum & Associates.

Greystone, a leading national commercial real estate finance company, has provided a $26,320,000 Freddie Mac loan to finance the acquisition of Tiberon Trails apartments, a multifamily property in Merrillville, Indiana. The financing was originated by Eric Rosenstock, Senior Managing Director at Greystone, on behalf of Bayshore Properties, a long-time Greystone client.

In addition, Greystone Equity Services brought in MORE Capital (an affiliate of Morgan Properties) as a preferred equity provider, which supplied a $4,960,000 pref equity loan in conjunction with the Freddie Mac financing.

Tiberon Trails, located in Merrillville, comprises 374 rental units with a diverse mix of studio, one-, two-, and three-bedroom apartments. Community amenities include a fitness center and playground. The Freddie Mac loan carries a fixed interest rate over a 5-year term, with a 30-year amortization and two years of interest-only payments.

“My team’s deep experience in agency lending ensures seamless execution and reliable financing for our clients’ strategic acquisitions,” said Mr. Rosenstock. “We are pleased to support our client’s continued growth in the Midwest with this transaction.”

Nick Kozul of Bayshore Properties added, “Greystone’s consistent ability to deliver certainty of execution is invaluable to our acquisition strategy. Their guidance and responsiveness throughout the process have been instrumental as we scale our multifamily portfolio across key markets.”

Greystone, a leading national commercial real estate finance company, announced it has provided a Freddie Mac loan to refinance a 357-unit multifamily property located in Schaumburg, IL. The financing was originated by Eric Rosenstock and Dan Sacks, both Senior Managing Directors at Greystone, on behalf of Bayshore Properties.

Greystone provided a $55,620,000 five-year, interest-only Freddie Mac Optigo® loan. An additional $6,000,000 in preferred equity funds were provided by 7Acres at closing, totaling $61.6 million for the transaction. 

21 Kristen Apartments is a condo deconversion that the borrower acquired in 2022 and who has since invested over $2.5 million in capital expenditures. The property has 30% of its units reserved for residents at 30% to 80% Area Median Income (AMI). Located in the Chicago MSA submarket of Schaumburg, 21 Kristen is within a neighborhood boasting a mix of municipal/recreational, residential, retail, and office uses. The multifamily property comprises one-, two-, and three-bedroom units and includes community amenities such as a pool, fitness center, and library / meeting room.

“Greystone is a highly reliable lender with an excellent suite of options for borrowers,” said Mr. Nick Kozul, principal, Bayshore Properties. “The Greystone team is beyond dedicated to exceeding expectations and we value our collaboration.”

“It’s been an honor to work with Bayshore Properties over the years and help their portfolio grow in size and strength,” said Mr. Rosenstock. “This recent refinance, which is a take-out of previous Greystone debt, helps set the property up for success as we move toward the next CRE market cycle.”

Greystone, a leading national commercial real estate finance company, has provided a $25,239,000 Freddie Mac Optigo® loan to refinance a 240-unit multifamily property in Valparaiso, Indiana. The financing was originated by Dan Sacks and Eric Rosenstock, both Senior Managing Directors at Greystone, on behalf of Bayshore Properties.

Constructed in 1973, Andover Park Apartments comprises 10, two-story residential buildings spread across 14.34 acres. The property’s amenities include a swimming pool, tennis courts, and playground. The $25.2 million Freddie Mac loan carries a 10-year term at a fixed rate and a 30-year amortization.

“We have built a long-standing relationship with Bayshore Properties and have truly enjoyed helping them refinance dozens of their quality multifamily assets over the years,” said Mr. Rosenstock. “Having a client trust us over and over because of our commitment to providing the best service and an ever-growing range of financing options really reinforces why we love what we do and who we do it for.”

Greystone, a leading national commercial real estate finance company, has provided a $40.3 million Freddie Mac Optigo® loan to refinance a 432-unit multifamily property in Crown Point, Indiana. The financing was originated by Eric Rosenstock and Dan Sacks, both Senior Managing Directors at Greystone, on behalf of Bayshore Properties.

Purchased by the borrower in 2021 with bridge financing, Hidden Creek Apartments received capital improvements in excess of $725,000 on more than 25% of the units, as well as exterior renovations of over $659,000. Originally constructed in 1976, the property comprises one- and two-bedroom units spread across twelve residential buildings with community amenities including a swimming pool, fitness room, playground, disc golf course, clubhouse, and ample outdoor space. The $40,309,000 non-recourse, fixed-rate Freddie Mac loan carries a 10-year term.

“Despite today’s more difficult financing environment, it’s gratifying to be able to provide a long-time client with continued high-touch service as they grow their multifamily portfolio,” said Mr. Rosenstock.

“Eric, Dan and the Greystone team have been nothing short of excellent as we navigated a higher rate environment and worked to add value to this quality asset for its long-term success,” said Mr. Nick Kozul of Bayshore Properties.  

Greystone, a leading national commercial real estate finance company, has provided a $94,451,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan for the $131 million acquisition of a 586-unit multifamily property in Arlington Heights, Illinois. The financing was originated by Dan Sacks and Eric Rosenstock, Co-Managing Directors in Greystone’s New York office, on behalf of Bayshore Properties.

Constructed in 1973, Stonebridge Luxury Apartments 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.

“We truly appreciate when clients repeatedly rely on Greystone and our deep resources for the multifamily properties in their portfolios,” said Dan Sacks. “We work tirelessly to earn our clients’ trust by leveraging our extensive financing platform to secure the right solutions and deliver an exceptional service experience on every transaction.”

“We 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,” said Mr. Nick Kozul, Chairman of Bayshore Properties, a repeat client of Greystone. “Greystone is a team with multifamily expertise that is simply unparalleled in this industry.”