Greystone Secures $44M Senior And Mezzanine Loan For Mount Prospect Multifamily Property

The property involved in the transaction is a multifamily asset located at 2000 West Algonquin Road in Mount Prospect. It consists of 344 units and is owned by Bayshore Properties, represented by Nick Kozul. The transaction took place on July 13, 2022.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $44,000,000
• Address: 2000 West Algonquin Road, Mount Prospect
• Market: Mount Prospect
• Units: 344

The lender involved in the deal is greystone''>Greystone, represented by Dan Sacks and Eric Rosenstock. They facilitated a senior and mezzanine loan for a total amount of $44,000,000. The loan consists of a $40.8 million nonrecourse Fannie Mae first mortgage with a 10-year term, a 30-year amortization, and six years of interest-only payments. Additionally, Greystone secured a $3.4 million Fannie Mae mezzanine financing on the property. The mezzanine loan has a 10-year term and full-term, interest-only payments.