Mark Sieb Secures $8.5 Million Refinance Loan For Senior Housing In Dolton

The property asset involved in the transaction is a senior housing facility located at 1515 East 154th Street in Dolton. The asset encompasses 122,625 square feet and includes a total of 127 units. The loan amount secured for this asset is $8,500,000, which is part of a refinance deal consisting of non-recourse terms and $5 million in cash-out proceeds along with a flexible pre-pay schedule.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $8,500,000
• Lender: Horizon Capital
• Landlord: Mark Sieb
• Correspondent: Dean Ofer - Harborview Capital Partners
• Loan Type: Refinance
• Loan Terms: Non-Recourse, $5M in cash out proceeds, Flexible Pre-pay schedule

The deal involves key individuals including Dean Ofer, who represents Harborview Capital Partners, serving as the correspondent for the lender, Horizon Capital. The landlord for the property is Mark Sieb, highlighting the parties involved in the financing of the senior housing asset.