Chicago & Midwest + Greater Chicagoland + Finance | January 5, 2021

Alliant Credit Union Closes on $39M Refi

Alliant Credit Union has closed on a $39-million loan to refinance a 300+ unit multifamily property located in Naperville, IL. The borrower wasn’t disclosed. Offering many lifestyle amenities including a pool and fitness center, the property has enjoyed occupancy of more than 90%.

Located in the Naperville submarket, which reports stronger median household income, education levels and population growth than the overall Chicago metropolitan area, the apartment building provides easy access to Chicago job centers and surrounding commercial districts. This transaction was referred to Alliant by Brett Olson and Joe Lindberg at Grandbridge Real Estate Capital LLC.

“Alliant was pleased to provide this financing for a strong, well-respected Midwest sponsor group that has continued to support and operate this property for years,” said Tim Madigan, commercial loan originator at Alliant. “The property is truly differentiated from the competition in a solid submarket.”

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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 13-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 15-20 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).

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