Greystone Provides $32.5M Freddie Mac Loan for Aspen Ridge Apartments Acquisition in West Chicago

Greystone has arranged $32.5 million in Freddie Mac financing for Bayshore Properties in connection with the acquisition of Aspen Ridge Apartments, a 253-unit multifamily community in West Chicago, Illinois, the firm announced March 31, 2026.

The transaction represents an agency-backed acquisition loan structured through Freddie Mac's multifamily lending platform. Specific loan terms, including interest rate, loan term, and amortization schedule, were not disclosed.

Deal Details: Aspen Ridge Apartments Acquisition

Aspen Ridge Apartments is located in West Chicago, in DuPage County. The 253-unit multifamily property was acquired by Bayshore Properties, which cited the asset's operational profile and potential for continued improvement as key drivers of the investment.

"Aspen Ridge represents a well-maintained asset with strong in-place operations and meaningful upside through continued management and operational efficiencies," according to a statement included in Greystone's announcement.

Bayshore Properties also commented on the transaction. "Aspen Ridge is a strong asset with solid fundamentals and value-add potential, and this structure positions us well to enhance the community and drive" long-term performance, a representative of the firm stated. Bayshore Properties additionally noted Greystone's familiarity with their investment approach. "Greystone's deep understanding of our strategy enabled a smooth and efficient acquisition," the firm said.

Greystone's Role in the Financing

Greystone served as the originating lender on the Freddie Mac loan. The firm noted that the capital solution was structured to support the buyer's acquisition strategy while positioning the property for ongoing operational performance.

"We are pleased to deliver a comprehensive capital solution that enables our client to execute their acquisition strategy while positioning the property for" continued success, a Greystone representative stated in the announcement.

A representative of Freddie Mac also commented on the transaction. "We have a great working relationship with both Bayshore Properties and Greystone. Aspen Ridge Apartments is well positioned in Bayshore's portfolio of assets," the representative said.