Greystone Provides $25M for Refi of Indiana MF

Greystone provided a $25.2 million Freddie Mac Optigo loan to refinance a 240-unit multifamily property in Valparaiso, Indiana. The loan carries a 10-year term at a fixed rate and a 30-year amortization.

The financing was originated by Dan Sacks and Eric Rosenstock, both Senior Managing Directors at Greystone, on behalf of Bayshore Properties. “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. Last month, the GReystone team closed another financing transaction with Bayshore for a nearby 432-unit multifamily property in Crown Point.

Constructed in 1973, Andover Park Apartments comprises ten, two-story residential buildings spread across 14.34 acres. The property’s amenities include a swimming pool, tennis courts, and playground. Located next to Rogers-Lakewood Park, the community is minutes from downtown and Valparaiso University.

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