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The Lynd Group Secures $66M Refinancing for Willow Glen Community in Suburban Chicago
The Lynd Group has successfully secured $66 million in refinancing for its rental community, Willow Glen, located in the suburban Chicago area. This strategic move repays the project’s original construction loan and replaces it with a simplified capital structure comprising a $58 million CMBS senior loan originated by Barclays and an $8 million mezzanine loan provided by Ghisallo Capital. The refinancing also retires the development’s government-backed bonds.
Developed by Lynd Development in collaboration with West Point Builders, Willow Glen is a 224-unit multifamily community situated in the Village of Willow Springs, approximately 25 miles southwest of downtown Chicago. The project was completed in 2023.
The property encompasses a mix of 188 apartment units and 36 three-story townhomes located at 8900 Willow Drive. The apartment homes offer a variety of one- and two-bedroom floor plans.
“This refinancing reflects the quality of the asset, the strength of our execution, and lender confidence in both the project and the Chicagoland market,” said A. David Lynd, CEO of The Lynd Group.
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