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Hines Secures Construction Debt for Oak Brook Rentals
Hines, along with Levy Family Partners, Duchossois Capital Management and Las Americas, arranged construction financing with New York Life Real Estate Investors on One Oak Brook Commons, the first-ever rental apartment development in the Village of Oak Brook. The project has also broken ground, with 2022 completion expcted.
One Oak Brook Commons will be a 17-story, Class-A high-rise with 250 luxury apartment homes and 420 parking stalls within a secured private parking deck. The community is located at the epicenter of the 16.5-acre Oak Brook Commons mixed-use master plan being developed by Hines, and will sit directly adjacent to a new public park named The Pitch.
“It is an honor to continue our work in the Village of Oak Brook and to add to the vibrancy of its commercial core,” said David Bach, managing director at Hines. “Hines is also delighted to expand our valued relationship with New York Life.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Development
