CoreVest Finance Provides $30.4M Construction Loan For Residential Property In Antioch, IL | 1262 Heritage Oak Drive | CoreVest Finance | Eric McGlynn | Co-Op | Loan

Summary

Loan

ILLINOIS

Co-Op

3,010 sqft

The residential property located at 1262-1268 Heritage Oaks Drive in Antioch, IL has been involved in a recent transaction. The property consists of 110 units and is owned by Moda Homes.

Summary of transaction details:

Property Type: Residential
Transaction Date: 09/24/2021
Market: Antioch, IL
Loan Amount: $30,388,000
Loan Type: Construction

The loan for this transaction was provided by CoreVest Finance, represented by Joakim Mortensen. The loan terms include a floating rate and a nonrecourse agreement. It consists of a two-year initial term and has an option for a six-month extension. Eric McGlynn from Walker & Dunlop, Inc acted as the broker in this deal.

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Lenders
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Details

Deal Summary

FINANCED

IMAGE: Joakim Mortensen & Eric McGlynn DATE: 09/24/2021 ADDRESS: 1262-1268 Heritage Oaks Drive MARKET: Antioch, IL ASSET TYPE: Residential ~ UNITS: 110 LENDER: CoreVest Finance - Joakim Mortensen LANDLORD: Moda Homes BROKERS: Eric McGlynn - Walker & Dunlop, Inc LOAN AMOUNT: $30,388,000 LOAN TYPE: Construction LOAN TERMS: floating rate, nonrecourse loan includes a two-year initial term in addition to one six-month extension option

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Address1262 Heritage Oak Drive

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