Noah Properties Secures $42.5 Million Refinance For Encore At The Grove Senior Housing In River Grove

The Encore at the Grove Apartments is a senior living complex located at 8001 West Belmont Avenue in River Grove, IL. This property consists of 120 units and has secured a refinancing amount of $42,500,000.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $42,500,000
• Lender: Willy Walker - Walker & Dunlop
• Landlord: Bart Przyjemski - Noah Properties
• Brokers: Jacob Petrovic, Morris Betesh, & Omar Ferreira - Arrow Real Estate Advisors
• Loan Type: Refinance

Noah Properties obtained the refinancing for the Encore at the Grove Apartments from Walker & Dunlop. Arrow Real Estate Advisors played a key role in facilitating this loan, which is supported by the final phase of a 22-acre multifamily development, despite the existing challenges in the lending environment.