LMF Commercial Refinances Multifamily Property In Sycamore, IL For $2.95M

The multifamily property located at 1440 David Drive in Sycamore, IL has undergone a refinancing transaction. The property spans a total of 26,040 square feet and consists of 20 units. The landlord, Brian Grainger, initiated the refinancing process.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,950,000
• Market: Sycamore, IL
• Lender: LMF Commercial (A Lennar Co.) - Nihad Choudhury
• Broker: Igor Zhizhin - American Street Capital
• Loan Type: Refinance
• Loan Terms: CMBS: 10-yr fixed, cash out refinance

The lender, LMF Commercial (A Lennar Co.), represented by Nihad Choudhury, provided a refinancing loan of $2,950,000. The loan type was CMBS with a 10-year fixed term, allowing the landlord, Brian Grainger, to conduct a cash-out refinance on the multifamily property.