Home›Real Estate›Residential›Greystone closes $35.4M Freddie Mac-backed loan for Na…

Greystone closes $35.4M Freddie Mac-backed loan for Naperville apartments

The loan supports Grand Lifestyles’ $51.3 million purchase of The Ponds of Naperville, a 216-unit community 30 miles west of downtown Chicago.

Reported · Written up by our desk · Residential

Greystone has closed a $35.4 million Freddie Mac-backed acquisition loan to help Grand Lifestyles buy The Ponds of Naperville, a multifamily property in suburban Chicago, according to Commercial Observer.

Commercial Observer reports the financing supports Grand Lifestyles’ $51.3 million acquisition from DRA Advisors.

The property at 1331 Modaff Road in Naperville was built in 1988 and includes 216 apartments with one and two-bedroom units, Commercial Observer said.

The outlet added that amenities include a clubhouse, recreation room, fitness center, swimming pool, playground, dog park, and barbeque area.

More like this

Sources