David Lynd Of Lynd Development Group Secures $64M Refinance Loan From Barry Sternlicht Of Starwood Capital In Oswego

The property asset involved in this transaction is a 178-unit multifamily community located at 137 Dorset Avenue in Oswego, Illinois. The asset has recently undergone a refinancing process with a loan amount of $64 million. The property features single-story homes with upscale finishes, extensive resort-style amenities, and was completed in 2022. Currently, it is 82% occupied, having replaced a previous construction loan of $66 million.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $64,000,000
• Lender: Barry Sternlicht - Starwood Capital Group
• Landlord: David Lynd - Lynd Development Group
• Previous Loan Amount: $66,000,000
• Occupancy Rate: 82%
• Location: 137 Dorset Avenue, Oswego, IL

Key individuals in this deal include Barry Sternlicht, representing Starwood Capital Group as the lender, and David Lynd, representing Lynd Development Group as the landlord. This refinance transaction allows Lynd Development Group to reduce its financial liabilities while maintaining control of the luxury build-to-rent community.