BJB Properties Secures $110.8 Million Refinance Loan From Evan Hom Of Lument For Chicago Multifamily Portfolio

The transaction involved a multifamily portfolio in Chicago, consisting of six properties with a total of 769 units. The properties located at 244 East Pearson Street, 1036 North Dearborn Street, 320 North Michigan Avenue, 1246 West Pratt Boulevard, 11 West Division, and 1939 North Lincoln Avenue are refinanced with a loan amount of $110,800,000. The loans are structured with fixed rates, 10-year terms, and 35-year amortization.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $110,800,000
• Lender: Evan Hom - Lument
• Landlord: BJB Properties
• Loan Type: Refinance
• Loan Terms: 10-year terms, 35-year amortization
• Interest Structure: Five full-term interest-only
• Affordability: Nearly half the units are affordable at 80% AMI

Evan Hom represented Lument as the lender in this transaction, while BJB Properties acted as the landlord. The financing supports a diversified multifamily portfolio, enhancing housing options in a key market area.