Updated Apr 3, 2025
Noah Properties Secures $42.5 Million Refinance For Encore At The Grove Senior Housing In River Grove
8001 West Belmont Avenue
$42,500,000
Units
120
Asset Type
Senior Housing
Closing
Apr 2, 2025
About this deal
AI
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.
On the Map
$42,500,000
Senior Housing
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River Grove Senior Housing Market Snapshot
Boundary boundary · Senior Housing · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93