Black Bear Capital Partners Secures $11.1M Acquisition/Construction Loan For Multifamily Development In Darien, IL

A multifamily property located at 2305 Sokol Court in Darien, IL, was involved in a recent loan transaction. The loan, totaling $11,100,000, was used for the acquisition and construction of a 68-unit multifamily development. The financing was structured as a 2-year fixed-rate loan with interest-only payments for the entirety of the term. The loan amount represented 75% loan-to-cost (LTC) of the project.

Summary of transaction details

• Property Type: Multifamily
• Loan Amount: $11,100,000
• Loan Type: Acquisition / Construction
• Loan Terms: 2-year fixed-rate loan with interest only payments

The loan transaction was facilitated by Suraj Desai of Black Bear Capital Partners. Serving as the broker representative, Suraj Desai played a crucial role in securing the financing for the multifamily development. Black Bear Capital Partners specializes in real estate finance and investment advisory services, providing tailored solutions to clients.