Dealmaker: Greystone Provides $120M in Financing for Chicago Multifamily Acquisition

(Image courtesy of Greystone)

Greystone, New York, provided $120 million in Fannie Mae Delegated Underwriting and Servicing financing for the acquisition of a high-rise in Chicago’s Fulton Market district.

The Fannie Mae financing carries a 10-year term with seven years of interest-only payments.

The financing was originated by Greystone’s Eric Rosenstock and Jesse Yodice on behalf of Normandy Real Estate.

The property–Fulbrix Apartments–is a 27-story tower with 375 units. It was acquired for $170 million, marking Chicago’s largest multifamily sales transaction since 2023.

Rosenstock noted the transaction highlights the firm’s commitment to core gateway cities and the resurgence of urban appeal.