2004 Transactions
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.
Tony Kolomayets, 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 Kolomayets, "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:
Tony Kolomayets
Senior Director
Email: tkolomayets@tremontcapital.com
Phone: 312.236.0970
