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Noah Properties Secures $42.5 Million Refinance For Encore At The Grove Senior Housing In River Grove
FINANCED
$42,500,000
Illinois
See Similar DealsSenior Housing
Financed 04/02/2025
FINANCED
Noah Properties Secures $42.5 Million Refinance For Encore At The Grove Senior Housing In River Grove
8001 West Belmont Avenue
See Similar DealsSenior Housing
Financed 04/02/2025
Summary
ILLINOIS
Asset Type:Senior Housing
Transaction Type:Loan
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.
Players
LENDER
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$42,500,000.00
Monthly NOI$283,333.33
Monthly Debt Service$268,628.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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