On the AMLI at Seven Bridges apartment project, National was able to serve as an important alternate source of long-term capital to our development partner, AMLI Residential, one of the top multi-family REITs in the country. While the suburban Chicago market was not spared from weakness experienced in apartment markets nationally, National and AMLI have demonstrated our commitment to the project’s long-term success. National’s ownership position in the AMLI project was an important factor in securing a forward commitment on the project’s permanent financing. National arranged for the lion’s share of credit enhancement required by the permanent lender until rental rates and occupancy reached stabilized levels. The AMLI at Seven Bridges development embodies our belief that investments made with reputable partners and based on sound real estate fundamentals will succeed.
Please visit AMLI at Seven Bridges' website at http://www.amli.com/apartments/chicago/seven-bridges
- Mid-rise luxury apartment community
- 520 units
- Equity Capital
- Diversified source of capital for REIT partner
- Credit enhancement of permanent financing