Greystone has provided $32.56 million 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 $5.5 million preferred equity check to help support the acquisition. The community features 253 units across multiple 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…