Chicago & Midwest + Greater Chicagoland + Finance | March 23, 2023

Red Oak Provides Bridge Loan on Hoffman Estates Offices

Red Oak Capital Holdings, a Grand Rapids, MI-based commercial real estate finance company, has provided an $8.3-million bridge loan for Prairie Stone Commons in Hoffman Estates, IL. The Class “B” office property consists of two buildings totaling 101,981 square feet. The funds will be used to refurbish, re-tenant and increase occupancy and rental rates.

Despite the lackluster performance of the general office sector, Red Oak was comfortable with this transaction for several reasons, said CEO Gary Bechtel. “This property is located in a top submarket within Greater Chicago, which itself ranks as the third MSA in the country, with a large, diverse economy,” he said.

“Further, the sponsor is a highly experienced regional investor/developer and property manager with an extensive portfolio of office properties in a number of states,” he added.

The sponsor entity, YP Trillium, LLC, is managed by Zaya S. Younan, president and CEO of Los Angeles-based investment and brokerage firm Younan Properties, Inc.

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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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