$ 22.6 Million Loan Allows Evergreen To Promote Two Affordable Housing Properties

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KeyBank Community Development Lending and Investment (CDLI) provided a US $ 22.6 million high debt bridging loan to Evergreen Real Estate Group, a Chicago-based developer, acquirer and manager of market-priced multi-family communities to acquire and maintain two adjacent affordable properties. housing. in Chicago, which is 217 units. All but two of the units operate with a Housing Assistance Agreement.

The deal is part of a larger acquisition of six properties in Chicago built between 1920 and 1948. The bridging loan is for 18 months to facilitate the acquisition.

David Luckey and Alton Tinker of CDLI KeyBank Group structured the funding.

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