We originated a $60.0 million credit facility, consisting of a $25.0 million 1st mortgage loan and a $35.0 million mezzanine loan, to refinance and complete the construction of a 417-unit luxury multifamily development in Aurora, a suburb of Chicago, Illinois. Located in the highly desirable Naperville/Aurora multifamily submarket, the 5-building complex is strategically positioned among numerous retail amenities and enjoys one of the nation’s top school districts. The project features several floor plans with high end finishes and a market leading amenity package including a resort-style pool, outdoor grills, outdoor fireplaces with seating, a fitness center with state of the art equipment, a resident club facility, a business center and a putting green. The project is expected to be completed in the 1st quarter of 2017.
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