TREVIAN FUNDS $15.8M LOAN SECURED BY TWO APT. COMPLEXES

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ELGIN, ILL. AND SOUTH HAVEN, IND. — Trevian Capital has funded a $15.8 million first-mortgage bridge loan secured by two garden-style apartment complexes totaling 322 units in Elgin and South Haven, suburbs in the Chicagoland market. Loan proceeds are being used by the borrower to retire two maturing loans. The loan is cross-collateralized by a 184-unit, 99 percent occupied multifamily property and a 138-unit, 95 percent occupied multifamily property.

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