Lynd Group Receives $66M Refinancing for Multifamily Property in Willow Springs, Illinois

WILLOW SPRINGS, ILL. — The Lynd Group has received $66 million in refinancing for Willow Glen, a 224-unit multifamily community in Willow Springs developed by Lynd Development in partnership with West Point Builders in 2023. The refinancing repays the project’s construction loan and replaces it with a new financing package consisting of a $58 million CMBS senior loan originated by Barclays and an $8 million mezzanine loan provided by Ghisallo Capital, which retired the project’s government-backed bonds and simplified the capital stack. Willow Glen consists of 188 apartment units and 36 three-story townhomes. Amenities include a clubhouse, fitness center, pool, courtyard terrace, fireside lounge, game room, pet park and outdoor gathering spaces.