facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Illinois

/

Multifamily

/

Loan

/

8001 West Belmont Avenue

Noah Properties Secures $53 Million Refinance Loan From Wells Fargo For The Grove Phase I Apartment
FINANCEDMultiFamily

Noah Properties Secures $53 Million Refinance Loan From Wells Fargo For The Grove Phase I Apartment

8001 West Belmont Avenue

$53,000,000

Building Size

Asset Type

MultiFamily

Closing

Mar 3, 2026

AI

The Grove Phase I apartment project, located at 8001 West Belmont Avenue in River Grove, is a 162-unit multifamily development spread across 22 acres. The property has undergone a refinancing of $53 million through Wells Fargo, a fixed-rate loan aimed at enhancing its financial structure. The location is approximately 13 miles from Downtown Chicago.

Summary of transaction details:

This refinancing deal for The Grove was facilitated by Arrow Real Estate Advisors, with engagement from key brokers Morris Betesh, Omar Ferreira, and Jacob Petrovic. Noah Properties, under the leadership of Bart Przyjemski, marked a significant step in the management of their asset in the competitive River Grove market.

Players

Morris Betesh

Arrow Real Estate Advisors

Broker

$12.6B

vol

219 deals

Broker
Wells Fargo
Wells FargoLender

River Grove MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.30%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93