LG Development Group Secures $124.6 Million Refinance Loan For 363-Unit Multifamily In Chicago

210 North Aberdeen Street is a multifamily asset located in Chicago, IL, comprising 363 units. The property recently underwent refinancing with a loan amount of $124,600,000, characterized as a three-year floating-rate loan. This transaction marks a significant adjustment from the initial construction loan taken in 2022.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $124,600,000
• Lender: Darryl Button - Pacific Life Insurance Company
• Landlord: Brian Goldberg - LG Development Group
• Broker: JLL
• Loan Type: Refinance
• Loan Terms: three-year floating-rate
• Occupancy Rate: 92%
• Market: Chicago, IL

This refinancing transaction involves key individuals such as Darryl Button and Brian Goldberg, representing Pacific Life Insurance Company and LG Development Group, respectively. The involvement of JLL as the broker highlights the professional support in facilitating this financial restructuring.