Greystone has provided a $26.32 million Freddie Mac loan to finance the acquisition of Tiberon Trails apartments, a multifamily property in Merrillville, Indiana.
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 $4.96 million equity loan in conjunction with the Freddie Mac financing. “We are pleased to support our client’s continued growth in the Midwest with this transaction,” said Rosenstock.
Tiberon Trails comprises 374 rental units with a diverse mix of studio, one-, two-, and three-bedroom apartments. Community amenities include a fitness center and playground. The Freddie Mac loan carries a fixed interest rate over a five-year term, with a 30-year amortization and two years of interest-only payments.
The post Greystone Provides $31M in Financing for Multifamily in Indiana appeared first on Connect CRE.