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Chicago & Midwest  + Chicago + Greater Chicagoland  + Finance  | 

Draper and Kramer Arranges $54M Financing for Merrillville Luxury Multifamily

VP Mark Perkowski of Draper and Kramer’s Commercial Finance Group arranged a $54-million loan on behalf of Weiss Entities for Prairie Point and The Reserve at Prairie Point Apartments, a 440-unit luxury apartment community in Merrillville, IN.

The balance sheet non-recourse loan provided a competitive five-year fixed rate with flexible prepayment. The loan was funded by one of Draper and Kramer’s correspondent life insurance company lenders.   

“We were able to leverage Draper and Kramer’s deep roster of correspondent lenders to secure a non-recourse loan with competitive pricing and flexible prepayment, a combination that is nearly impossible to source from agency lenders and banks,” said Perkowski. “The Weiss team’s dedication to high-quality maintenance, timely upgrades and professional management was integral to the successful closing.” 

Chicago-based Weiss Entities develops, invests, and manages a portfolio of properties across Chicago and Northwest Indiana.

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Draper and Kramer's Perkowski

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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