BJB Properties Refinances Four Lakeview Multifamily Assets In Chicago For $90.6M With Lument

The transaction involves four multifamily assets located at 424 West Diversey Parkway, 451 Wrightwood, 443 Wrightwood, and 517 Oakdale in the Chicago market. The properties collectively feature a total of 654 units and are being refinanced with a significant loan amount. The landlord overseeing this transaction is BJB Properties.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $90,600,000
• Lender: Evan Hom - Lument
• Loan Type: Refinance
• Loan Terms: seven-year terms and 35-year amortizations
• Asset Units: 654
• Market: Chicago
• Note: The refinancing replaces life company debt and includes cash-out proceeds, with 96% of the portfolio regarded as accessible and affordable housing.

Evan Hom represents Lument in this transaction, facilitating the provision of Fannie Mae DUS loans. This refinancing deal, aimed at improving the financial structure for BJB Properties, highlights the lender's role in supporting multifamily housing in the Lakeview area.