Synergy Development Secures $68.5 Million Construction Loan For Yorktown Reserve In Lombard

The property asset involved is a development site located at 230 Yorktown Center Drive, Lombard. This site is poised for the construction of a 271-unit development, known as Yorktown Reserve, which will include upscale amenities such as a resort-style pool, fitness center, multi-sport simulator, and communal spaces to cater to young professionals and families.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $68,500,000
• Units: 271
• Loan Amount: $68,500,000
• Loan Type: Construction
• Landlord: Synergy Development
• Broker: Frank Montalto - Institutional Property Advisors (IPA)

Institutional Property Advisors (IPA) was instrumental in securing a $56 million senior construction loan along with $12.5 million in equity for the first phase of this significant development project in Lombard, Illinois. Frank Montalto serves as the broker representing the landlord, Synergy Development, in this transaction.