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Chicago & Midwest  + Greater Chicagoland  + Finance  | 
Greystone provided a $94-million Fannie Mae acquisition loan on Stonebridge Apartments in Arlington Heights, IL

Greystone Provides $94M Fannie Mae DUS Loan on Arlington Heights Multifamily Buy

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, IL. 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 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 Sacks. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Financing
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