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High Street Residential Secures $125M Construction Loan For Multifamily Project On W Carroll Avenue

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FINANCED
$125,000,000

Illinois

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MultiFamily
Financed 04/27/2023
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Property Image
FINANCED

High Street Residential Secures $125M Construction Loan For Multifamily Project On W Carroll Avenue

1112 W Carroll Avenue

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MultiFamily
Financed 04/27/2023
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Loan

The property involved in this transaction is a multifamily asset located at 1112 W Carroll Avenue in Fulton Market. It consists of 377 units, making it a significant addition to the market. The deal occurred on 04/27/2023.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $125,000,000
  • Address: 1112 W Carroll Avenue
  • Market: Fulton Market
  • Units: 377

The lender in this transaction was Otera Capital, who provided a construction loan of $125,000,000. The landlord involved is High Street Residential, represented by Bob Sulentic. The broker who facilitated the deal was Ron DeVries from Integra Realty Resources.

Players

Ron DeVries
Integra Realty Resources
Ron DeVries
1 deal$125M volume
BROKER
High Street Logistics
High Street Logistics
LANDLORD

Details

FINANCED
IMAGE: Ron DeVries DATE: 04/27/2023 ADDRESS: 1112 W Carroll Avenue MARKET: Fulton Market ASSET TYPE: Multifamily ~ UNITS: 377 LENDER: Otera Capital LANDLORD: High Street Residential - Bob Sulentic BROKER: Ron DeVries - Integra Realty Resources (@Integrasyracuse) LOAN AMOUNT: $125,000,000 LOAN TYPE: Construction Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$125,000,000.00

Monthly NOI$833,333.33
Monthly Debt Service$790,085.03
Change in Cash Flow$0.00
Refinance Proceeds$0.00