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Greystone Provides $20.7 Million Fannie Mae Loan for Multifamily Property in Matteson, Illinois sold by Cushman & Wakefield

CWK
  • Greystone provided a $20,686,000 Fannie Mae loan to finance the acquisition of The Manors at Brookmere, a 108-unit multifamily community in Matteson, Illinois.
  • The property is a build-to-rent community situated on over 11 acres south of downtown Chicago, constructed between 2016 and 2018.
  • Residences feature two- or three-bedroom floor plans with private entrances, attached garages, granite countertops, in-unit laundry, and walk-in closets.
  • The loan includes a seven-year fixed-rate term, three years of interest-only payments, and a 30-year amortization schedule.
  • Loan proceeds facilitated the purchase by a joint venture between Ashland Capital and Crest Capital.
  • Clint Darby and Andrew Remenschneider originated the financing at Greystone.
  • Jack Maloney and Brad Smith of Cushman & Wakefield represented the seller in the transaction.