On the AMLI at Seven Bridges apartment project, NEBF
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, NEBF and
AMLI have demonstrated our commitment to the project’s
long-term success. NEBF’s ownership position in
the AMLI project was an important factor in securing
a forward commitment on the project’s permanent
financing. NEBF provided 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.
