November 15, 2024

Arden Townhomes is currently in lease-up. All transactions with less than stabilized occupancy carry lease-up risk, which can be mitigated by diligent underwriting and market knowledge. Given the strong demand drivers in Warrenville — top rated schools, high average median incomes and a close proximity to several employers — Pearlmark was comfortable with the lease-up risk. The lender believes this investment represents an attractive mezz loan opportunity to a well-capitalized sponsor with strong local knowledge and presence. More