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.

Greystone structured the financing with a Freddie Mac conventional loan, 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.

Join us on Tuesday afternoon, June 2, 2026, at the Connect Midwest Multifamily Trends Conference as JDL Founder, Jim Leitchinger, is honored with the Changing Skyline Award, followed by an exclusive Keynote Interview. This is a rare opportunity to hear firsthand insights from one of the region’s most influential visionaries in multifamily development.