Craig Koenigsberg's CLK Properties Secures $115M Loan From Greystone For Multifamily Refinance In Des Plaines

The property asset involved is a 918-unit multifamily complex located at 10020 Holly Lane in Des Plaines, Illinois. The property, known as Courtlands on the Park, was originally built in 1973 and is positioned within a market that supports a diverse residential demographic. The recent refinancing is aimed at supporting ongoing development plans for the property.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $115,000,000
• Lender: Eric Rosenstock - Greystone
• Landlord: Craig Koenigsberg - CLK Properties
• Loan Type: Refinance
• Loan Terms: Five-year, 30-year amortization period with three years of interest-only payments
• Previous Acquisition Price: $94,000,000 in 2020

This transaction highlights the involvement of notable individuals, specifically Eric Rosenstock, who represents Greystone as the lender, and Craig Koenigsberg, representing CLK Properties as the landlord. The refinancing replaces prior bridge financing and is strategically aligned with CLK's vision for a condo conversion at the property.