Noah Properties Secures $50 Million Bridge Loan From Walker & Dunlop For Novú Apartments In Niles

The asset involved in this transaction is a multifamily property located at 6633 North Milwaukee Avenue in Niles, Illinois, featuring 180 units within a 192,000-square-foot Class A building. The property includes one- to three-bedroom units and offers resort-style amenities. The transaction involves a refinance for the amount of $50,000,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $50,000,000
• Address: 6633 North Milwaukee Avenue
• Market: Niles
• Units: 180
• Lender: Walker & Dunlop Investment Partners
• Landlord: Bart Przyjemski - Noah Properties
• Brokers: Morris Betesh, Omar Ferreira & Jacob Petrovic - Arrow Real Estate Advisors
• Loan Type: Refinance

Noah Properties secured a bridge loan to refinance its newly completed apartments, with the financing arranged by Arrow Real Estate Advisors, which replaces construction debt and provides necessary flexibility during lease-up.