Case Study: $40MM Multifamily Property | Recapitalization | Woodridge, IL

Structured and arranged a bridge loan to recapitalize a 304-unit, 216, 800-square-foot, garden rental community situated on 32.5 acres of land in Woodridge, Illinois.

Challenges

Client was seeking to repatriate capital prior to completing a value-add turnaround strategy, prompting the need to max proceeds coupled with a cash-out component. Furthermore, a multiparty ownership structure created complexities in meeting lenders balance sheet requirements.

Solutions

Conducted a comprehensive marketing process to identify a lender willing to provide an immediate cash-out option and future earn-out mechanics as the property operations continued to improve. Negotiated alternative structures and amounts to prop up bad boy carve-out guarantees. A last-minute ask to adjust interest rate cap pricing benefited borrower with substantial savings.