Gateway Transit

The Gateway is a 55+ acre mixed-use transit oriented real estate development which will wrap around the El Monte Metro Station, which is the largest transit station west of Chicago and a regional transportation hub. After a $60M renovation in 2012, the transit station now services 22,000 passengers daily. Grapevine advisors is planning 487 multi-family rental units currently under construction, a proposed 200 room hotel, 25,000 SF of commercial/retail space currently under construction, a 70,000 SF movie theatre, and 16 acres of open space. The loan will be used to acquire “Parcel 5”, a 3.7 acre parcel currently operating as a parking lot with cash flow.

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  • Property Type Entitled Land
  • PurposeAcquisition
  • Gross Annual Coupon10.00%
  • Loan Amount$10,000,000
  • Loan to Value52.0%
Location

Chicago, IL

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