Equity Bridge Loan
|Client & Transactional Partners||EVERGREEN REAL ESTATE SERVICES||Our Role||
Equity Bridge Loan Underwriter
Park Tower is an existing 134-unit 14-story affordable housing project located in Joliet, IL. The unit mix is 100% 1BD units and is targeted to seniors 62+. The project has a Section 8 contract on 100% of the units that will be marked up to market in conjunction with renovation under a new 20-year contract. The Illinois Housing Development Authority was the Bond Issuer and the project will undergo just under $40,000/unit in hard costs.