Bayshore Properties Acquires Multifamily Property In Des Plaines For $102.7M Loan | 9030 Kennedy Drive | MultiFamily | Loan

Summary

Loan

ILLINOIS

MultiFamily

A multifamily property located at 9030 Kennedy Drive in Des Plaines has recently been involved in a closed transaction. The property consists of 752 units, making it a sizable investment opportunity in the market.

Summary of transaction details

Property Type: Multifamily
Transaction Date: 02/04/2022
Address: 9030 Kennedy Drive
Market: Des Plaines
Units: 752

The acquisition loan for this transaction was secured from greystone''>Greystone, with Dan Sacks and Eric Rosenstock representing the lender. The loan amount was $102,700,000 and had a 10-year term, a 30-year amortization schedule, and three years of interest-only payments. Additionally, a non-recourse, fixed-rate Delegated Underwriting and Servicing Lender Affiliate mezzanine loan of $6.8 million was obtained, with full-term interest-only payments.

Bayshore Properties, represented by Nick Kozul, serves as the landlord for this property.

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Details

Deal Summary

FINANCED

IMAGE: Dan Sacks & Eric Rosenstock DATE: 02/04/2022 ADDRESS: 9030 Kennedy Drive MARKET: Des Plaines ASSET TYPE: Multifamily ~ UNITS: 752 LENDER: Greystone - Dan Sacks & Eric Rosenstock LANDLORD: Bayshore Properties (@BayshoreProperties_) - Nick Kozul LOAN AMOUNT: $102,700,000 LOAN TYPE: Acquisition Loan LOAN TERMS: 10-year term and 30-year amortization along with three years of interest-only payments & The second loan consists of a non-recourse, fixed-rate Delegated Underwriting and Servicing Lender Affiliate mezzanine 10-year loan for $6.8.8 million with full-term interest-only payments

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Address9030 Kennedy Drive

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