Greystone has provided $120 million in Fannie Mae Delegated Underwriting & Servicing financing for the acquisition of a 375-unit multifamily high-rise in Chicago’s Fulton Market.
The financing originated from Greystone’s Eric Rosenstock and Jesse Yodice on behalf of Normandy Real Estate. Fulbrix Apartments, a 27-story tower located at 160 North Elizabeth Street, was acquired for $170 million and marks Chicago’s largest multifamily sales transaction since 2023. The Fannie Mae financing carries a 10-year term with seven years of interest-only payments.
“This acquisition underscores the enduring appeal of Fulton Market as a premier multifamily investment destination,” said Adam Snyder, CEO of Normandy Real Estate. “We are grateful for Greystone’s expertise in providing attractive financing that aligns with our vision for this high-quality asset in a supply-constrained, high-demand neighborhood.”
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