Bayshore Properties Secures $94.9M Loan From Greystone For Woodlands Of Crest Hill Apartments

The property involved in this transaction is the Woodlands of Crest Hill Apartments, a multifamily asset located at 1615 Arbor Lane in Crest Hill. The property consists of 730 units and was acquired for $110 million. The purchase was supported by financing totaling $94.9 million, which includes a loan amount consisting of an $89.3 million, 10-year fixed-rate Fannie Mae loan and a $5.6 million interest-only mezzanine loan.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $110,000,000
• Loan Amount: $94,900,000
• Loan Type: Acquisition
• Loan Terms: 10-year, fixed-rate and $5.6M interest-only
• Lender: Eric Rosenstock - Greystone
• Landlord: Nick Kozul - Bayshore Properties

The deal was facilitated by Bayshore Properties, led by Nick Kozul, acquiring the asset from Osso Capital. The financing will provide Bayshore with long-term certainty to support its business plan for the multifamily property site near Chicago.