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Bob Burk Of UrbanStreet Group Secures $94 Million Construction Loan From Bank OZK In Schaumburg

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FINANCED
$94,000,000

Illinois

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Development Site
Financed 10/29/2025
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Property Image
FINANCED

Bob Burk Of UrbanStreet Group Secures $94 Million Construction Loan From Bank OZK In Schaumburg

Development Site
Financed 10/29/2025
the dealplayerscompscontact
Contact now

Summary

Asset Type:Development Site
Transaction Type:Loan

The property involved is a development site located at the southwest corner of Algonquin Road and Meacham Road in Schaumburg. UrbanStreet Group is undertaking a significant redevelopment of the former Motorola campus, with a total investment planned of $1 billion. The first phase, costing $175 million, will feature 321 apartments and 60,000 square feet of retail space, with Fresh Market serving as an anchor tenant.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $94,000,000
  • Lender: Brannon Hamblen - Bank OZK
  • Landlord: Bob Burk - UrbanStreet Group
  • Location: Southwest Corner of Algonquin Road & Meacham Road, Schaumburg
  • Loan Type: Construction

The deal was facilitated by Brannon Hamblen from Bank OZK, who provided the construction loan for UrbanStreet Group, represented by Bob Burk. This loan marks a pivotal moment in the ongoing transformation of the 225-acre site into a walkable mixed-use district.

Players

Bank OZK
Bank OZK
LENDER
UG
UrbanStreet Group
LANDLORD

Details

FINANCED
IMAGE: Brannon Hamblen & Bob Burk DATE: 10/29/2025 ADDRESS: Southwest Corner of Algonquin Road & Meacham Road MARKET: Schaumburg ASSET TYPE: Development Site LENDER: Brannon Hamblen - Bank OZK (@BankOZK) LANDLORD: Bob Burk - UrbanStreet Group LOAN AMOUNT: $94,000,000 LOAN TYPE: Construction NOTE: UrbanStreet Group secured a $94 million construction loan from Bank OZK to fund the first phase of its $1 billion Veridian redevelopment of the former Motorola campus in Schaumburg, Illinois. The $175 million phase includes 321 apartments and 60,000 square feet of retail, anchored by Fresh Market, marking a key milestone in transforming the 225-acre site into a walkable mixed-use district.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$94,000,000.00

Monthly NOI$626,666.67
Monthly Debt Service$594,143.94
Change in Cash Flow$0.00
Refinance Proceeds$0.00