Jordan Brown Of Wintrust Provides $1.05M Refinance Loan For Nine-Unit Multifamily In Little Village

This transaction involves a nine-unit multifamily walk-up property located in Little Village, Chicago. The property secured a refinancing loan amounting to $1,050,000, which allows for cash-out options with terms structured as maximum leverage, a 12-month interest-only period, and limited recourse burn-off.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,050,000
• Loan Type: Refinance
• Loan Terms: Max Leverage, 12-MO IO, Limited Recourse Burn-Off
• Lender: Jordan Brown - Wintrust
• Capital Markets Advisors: Asher Motew & Quinn Keenan - Essex Capital Markets

Asher Motew and Quinn Keenan of Essex Capital Markets facilitated this loan with a regional bank that was new to the sponsor. They were able to comfortably underwrite the stabilized rent roll and ensure that the loan was positioned for maximum leverage and cash-out, along with attractive interest terms as outlined in the signed term sheet.