Draper And Kramer’s Commercial Finance Group Provides $14.9M Refinance & Construction Loan For Student Housing In Normal, IL

Located at 120 McKnight Dr. in Normal, IL, this student housing property was recently involved in a closed transaction. The property is owned by 100 McKnight, LLC and was marketed by Draper and Kramer’s Commercial Finance Group, represented by broker Matthew Wurtzebach.

Summary of transaction details

• Property Type: Student Housing
• Transaction Amount: $14,875,000
• Loan Type: Refinance & Construction Loan
• Loan Terms: non-recourse

The deal involved a loan amount of $14,875,000 for the purpose of refinancing and construction. The loan is non-recourse, providing favorable terms for the borrower. Matthew Wurtzebach from Draper and Kramer’s Commercial Finance Group played a crucial role in facilitating the loan and ensuring a successful transaction.