2004 Transactions

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Tremont Structures $16,800,000 Financing for Chicago Apartments

The Chicago office of Tremont Realty Capital structured the permanent loan for the refinance of Lioncrest Apartments, a 270-unit, Class-B, multifamily asset in the southeast suburbs of Chicago.

A Senior Director with Tremont, arranged the 2-year, 100% recourse loan, which provided for roughly 80% loan-to-value. The property was 90% occupied at the time of closing. According to Tremont, "The short term, LIBOR based rate loan, allowed the borrower to recapitalize the asset and pull out some equity for further acquisitions. This was accomplished and still left options open for the long run."

For additional information on this transaction, please contact:

Thomas Lorenzini
Managing Director
Email: tlorenzini@tremontcapital.com
Phone: 312.236.0960