Berkadia Arranges Acquisition Loan for Tinley Park Apartments
Berkadia secured financing for Edenbridge Apartments, a 309-unit midrise multifamily property in Tinley Park, IL. Managing director John J. Schorgl of Berkadia Kansas City secured the acquisition financing on behalf of the borrower, Illinois-based Artisan Capital Group. Terms weren’t disclosed.
The three-year bridge loan financed through Cohen & Company features a floating rate, is interest only and non-recourse.
“This is a great opportunity for both the sponsors and community as the apartment complex was in need of a few upgrades,” said Schorgl.
Located at 18134 S 66th Ct. In Tinley Park, Edenbridge Apartments features studio, one-, two- and three-bedroom floor plans with in-unit washers and dryers, walk-in closets and air conditioning.
Community amenities include a sundeck, a clubhouse, a playground and a swimming pool. Residents are afforded convenient access to the Tinley Park Convention Center and the shops and restaurants along Route 43 and Route 6.
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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