The Drake Group Secures $32 Million Refinance Loan For 62-Unit Multifamily Community In Glenview IL

The property asset involved is a newly built, 62-unit multifamily community located at 1850 Glenview Road in Glenview, Illinois. It is characterized by a refinancing loan of $32 million, which pays off the prior construction facility and the property’s preferred equity investor. Additionally, the asset features 6,886 square feet of ground-floor retail.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $32,000,000
• Units: 62
• Address: 1850 Glenview Road
• Market: Glenview, IL
• Lender: Jonathan Daniel - Knighthead Funding, LLC
• Landlord: The Drake Group
• Brokers: Daniel Gillard, Philip Galligan, Michael Gurwin & Ryan Planek - JLL
• Loan Type: Refinance

This transaction involved key individuals including Jonathan Daniel from Knighthead Funding, who facilitated the refinancing loan for The Drake Group. JLL, represented by brokers Daniel Gillard, Philip Galligan, Michael Gurwin, and Ryan Planek, was responsible for arranging the debt in this deal.