{"id":1004123833,"date":"2015-07-23T05:54:41","date_gmt":"2015-07-23T13:54:41","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=355871"},"modified":"2021-05-14T18:08:28","modified_gmt":"2021-05-15T02:08:28","slug":"joint-venture-bets-on-chicago-multifamily","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/joint-venture-bets-on-chicago-multifamily\/","title":{"rendered":"Joint Venture Bets on Chicago Multifamily"},"content":{"rendered":"

By Ioana Neamt, Associate Editor<\/em><\/p>\n

\"Autumn<\/a><\/p>\n

Autumn Chase Apartments – 725 W Bode Circle, Hoffman Estates, IL<\/em><\/p>\n<\/div>\n

Two out-of-state investors recently closed a major multifamily deal in the Windy City. Walker & Dunlop Inc.<\/a> of Bethesda, Md., together with Phoenix, Az.-based TSB Capital Advisors<\/a> closed a $50 million loan for the refinancing of Autumn Chase Apartments<\/a> in Hoffman Estates, Ill.<\/p>\n

A team led by Walker & Dunlop Managing Director Will Baker worked on behalf of Greenwood Capital Investment<\/a> to secure a cash-out refinancing loan underwritten with a 10-year term, including nine and a half years of yield maintenance and a 30-year amortization schedule. According to a prepared statement, Fannie Mae<\/a> agreed to lend up to 80 percent of the property value on a cash-out refinance.<\/p>\n

\u201cBased on Greenwood\u2019s outstanding track record operating this asset for many years, they were able to access the equity they had accumulated in the project to grow their multifamily development platform,\u201d said Baker. \u201cOur outstanding relationship with Fannie Mae and TSB Capital Advisors enabled a seamless transaction.\u201d<\/p>\n

Located at 725 W. Bode Circle in Hoffman Estates, Autumn Chase Apartments incorporates 550 studio, one- and two-bedroom residential units and has an occupancy rate of 95 percent. The garden-style community offers residents amenities such as an outdoor swimming pool, tennis court, private picnic area, and parking garages with automatic doors. The Northwestern Chicago suburb of Hoffman Estates is the home of Sears Holding Co.\u2019s headquarters and the Midwest headquarters for AT&T.<\/p>\n

Image courtesy of Autumn Chase Apartments<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Two out-of-state investors recently closed a major multifamily deal in the Windy City.<\/p>\n","protected":false},"author":192,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21742],"tags":[],"class_list":["post-1004123833","post","type-post","status-publish","format-standard","hentry","category-chicago","category-latest"],"acf":[],"yoast_head":"\nJoint Venture Bets on Chicago Multifamily - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/joint-venture-bets-on-chicago-multifamily\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Joint Venture Bets on Chicago Multifamily\" \/>\n<meta property=\"og:description\" content=\"Two out-of-state investors recently closed a major multifamily deal in the Windy City.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/joint-venture-bets-on-chicago-multifamily\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-07-23T13:54:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T02:08:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/shapeimage_2.png\" \/>\n<meta name=\"author\" content=\"Ioana Neamt\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joint-venture-bets-on-chicago-multifamily\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joint-venture-bets-on-chicago-multifamily\\\/\"},\"author\":{\"name\":\"Ioana Neamt\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/993af2799cdaf5162633d320cf63ff16\"},\"headline\":\"Joint Venture Bets on Chicago Multifamily\",\"datePublished\":\"2015-07-23T13:54:41+00:00\",\"dateModified\":\"2021-05-15T02:08:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joint-venture-bets-on-chicago-multifamily\\\/\"},\"wordCount\":253,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joint-venture-bets-on-chicago-multifamily\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/07\\\/shapeimage_2.png\",\"articleSection\":[\"Chicago\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joint-venture-bets-on-chicago-multifamily\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joint-venture-bets-on-chicago-multifamily\\\/\",\"name\":\"Joint Venture Bets on Chicago Multifamily - 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