Prairie Point in Merrillville, Indiana

Weiss Refinances Indiana Property With $54 Million Loan

by Lynn Peisner

MERRILLVILLE, IND. — Draper and Kramer has arranged a $54 million loan on behalf of Weiss Entities to refinance Prairie Point and The Reserve at Prairie Point apartments in Merrillville, which is about 43 miles south of Chicago. The five-year, fixed-rate loan was funded by a life insurance company lender.

Prairie Point and The Reserve comprises 440 townhome-style units and was built between 2002 and 2015, with most recent renovations taking place in 2018. Amenities include a clubhouse, fitness center, resort-style heated pool, a playground and a regulation-sized sand volleyball court. A team led by Vice President Mark Perkowski of Draper and Kramer’s Commercial Finance Group (CFG) arranged the loan.

Chicago-based Weiss Entities develops, invests and manages a portfolio of properties across Chicago and Northwest Indiana. The firm’s portfolio comprises $300 million of assets under management.

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