Knighthead Funding Provides $32M Loan for Refinancing of Metro Chicago Apartment Community

GLENVIEW, ILL. — Knighthead Funding has provided a $32 million loan for the refinancing of Cerca, a newly constructed multifamily community in Glenview. The loan refinances a previous construction facility and provides proceeds to pay off the property’s preferred equity investor. Jonathan Daniel, Peter Illuzzi and Joseph Marraccini of Knighthead originated the loan on behalf of the borrower, The Drake Group. Amenities at the 62-unit property include fitness rooms, a private dining area, conferen