Updated Dec 4, 2024
Bayshore Properties Refinances Hidden Creek Apartments With $40.3M Loan From Greystone
8118 South International Drive
$40,309,000
Units
432
Asset Type
MultiFamily
Closing
Jan 16, 2024
About this deal
AI
Greystone has provided a $40.3 million Freddie Mac Optigo loan to refinance the 432-unit Hidden Creek Apartments in Crown Point, Indiana. The loan follows the property's 2021 purchase and substantial capital improvements. The loan is a non-recourse, fixed-rate loan with a 10-year term.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $40,309,000
- Units: 432
- Address: 8118 South International Drive, Crown Point, Indiana
- Market: Crown Point, Indiana
Eric Rosenstock and Dan Sacks from Greystone facilitated the loan on behalf of Bayshore Properties, the landlord of Hidden Creek Apartments.
On the Map
$40,309,000
MultiFamily
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Columbus MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93