Updated Dec 12, 2024
High Street Residential Secures $125M Construction Loan For Multifamily Project On W Carroll Avenue
1112 W Carroll Avenue
$125,000,000
Units
377
Asset Type
MultiFamily
Closing
Apr 27, 2023
About this deal
AI
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.
On the Map
$125,000,000
MultiFamily
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Players
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93