Bayshore Properties Acquires Multifamily Property In Des Plaines For $102.7M Loan

A multifamily property located at 9030 Kennedy Drive in Des Plaines has recently been involved in a closed transaction. The property consists of 752 units, making it a sizable investment opportunity in the market.

Summary of transaction details

• Property Type: Multifamily
• Transaction Date: 02/04/2022
• Address: 9030 Kennedy Drive
• Market: Des Plaines
• Units: 752

The acquisition loan for this transaction was secured from greystone''>Greystone, with Dan Sacks and Eric Rosenstock representing the lender. The loan amount was $102,700,000 and had a 10-year term, a 30-year amortization schedule, and three years of interest-only payments. Additionally, a non-recourse, fixed-rate Delegated Underwriting and Servicing Lender Affiliate mezzanine loan of $6.8 million was obtained, with full-term interest-only payments.

Bayshore Properties, represented by Nick Kozul, serves as the landlord for this property.