Synergy Construction & Development Secures $92 Million Loan For Yorktown Center Development In Lombard

The asset involved in this transaction is a development site located at 203 Yorktown Center Drive in Lombard, with a total area of 2 acres. It is part of a 600-unit apartment project, the first phase of which includes 271 apartments. The financing secured for this development amounts to $92 million, with an expected completion date in the summer of 2026.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $92,000,000
• Address: 203 Yorktown Center Drive
• Market: Lombard
• Lender: CIBC Bank, Republic Bank & Fidelity Investments
• Landlord: Phil Domenico - Synergy Construction & Development; Jonathan Rood - Pacific Retail Capital Partners
• Broker: Frank Montalto - Institutional Property Advisors - Marcus & Millichap

The financing for this project is secured by Synergy Construction & Development in collaboration with Pacific Retail Capital Partners. The former Carson's store site is to be redeveloped as part of this initiative, marking a significant advancement in local residential options.