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Chicago & Midwest  + Illinois  + Finance  | 

PCCP Provides Refi on Chicago-Area Luxury Build

PCCP LLC provided a $33.1-million senior loan to GSP Development for the refinance of Apex 41, a five-story, 181-unit, luxury apartment project in Lombard, IL. The loan will repay the existing construction loan and provide additional time for lease-up and stabilization of the property.

Construction of Apex 41 was completed in March 2017 as the final piece of locally based GSP’s 60-acre mixed-use development. It’s adjacent to Yorktown Shopping Center and convenient to Interstates 88 and 355.

Lombard is in the epicenter of the DuPage County’s East/West Office Corridor, which is one of the largest office submarkets in the Chicago MSA, with approximately 35.6 million square feet of office space. The East/West Office Corridor is home to several Fortune 1000 companies and other large private employers that locate in the Chicago suburbs for proximity to affordable housing and dense residential neighborhoods.

Connect Texas Multifamily will take place August 15, 2019 in Dallas. For more information, or to register, click here.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
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