Ashland Capital And Crest Capital Acquire 108-Unit Community In Matteson, Illinois For $20.686M

The Manors at Brookmere is a multifamily property located at 4962 Bennett Street in Matteson, Illinois, comprising 108 units spread across 11 acres. The acquisition financing involved a loan amount of $20,686,000 provided by Greystone, specifically a Fannie Mae loan, and the loan features a seven-year fixed-rate structure.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $20,686,000
• Loan Type: Acquisition
• Loan Terms: seven-year, fixed-rate
• Market: Matteson, IL
• Lender: Greystone
• Landlord: Ashland Capital & Crest Capital
• Originators: Clint Darby & Andrew Remenschneider - Greystone

This acquisition represents a joint venture between Ashland Capital and Crest Capital aimed at enhancing the suburban living options in the area. The deal was executed with the assistance of Greystone's originators, Clint Darby and Andrew Remenschneider, who played pivotal roles in securing the financing necessary for this transaction.