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 near Gary.
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.
Community amenities at Tiberon Trails 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 is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates.
