Project Overview
Project Overview
Project Overview
Location
River Grove
Location
River Grove
Number of Units
162 Luxury Rental Units, 80 Luxury Build-For-Rent Townhomes, 120 Age-Restricted 55+ Rentals
Number of Units
162 Luxury Rental Units, 80 Luxury Build-For-Rent Townhomes, 120 Age-Restricted 55+ Rentals
Loan Amount
$137,000,00
Loan Amount
$137,000,00
Asset Type
Luxury Rental Units
Asset Type
Luxury Rental Units
Transaction Challenges:
» Benefits from being located in a Tax Increment Financing (TIF) District, which requires additional structure for lenders to underwrite future cash flows » Cash-Out to the Sponsor at closing » Cook County scrutiny related to real estate taxes
Transaction Challenges:
» Benefits from being located in a Tax Increment Financing (TIF) District, which requires additional structure for lenders to underwrite future cash flows » Cash-Out to the Sponsor at closing » Cook County scrutiny related to real estate taxes
ArrowREA Solution:
» Sourced a lending solution with one lender for all three phases. » Efficiently structured separate TCO takeouts given the allocated TIF proceeds for each phase of the development.
ArrowREA Solution:
» Sourced a lending solution with one lender for all three phases. » Efficiently structured separate TCO takeouts given the allocated TIF proceeds for each phase of the development.
We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.
We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.
We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.