Antheus Capital refinances third Hyde Park building, bringing April borrowing to $130M

Chicago /
May.May 10, 2019 04:00 PM
Antheus Capital Principal David Gefsky and the  Shoreland Hotel at 5454 South Shore Drive (Credit: LinkedIn)

Antheus Capital Principal David Gefsky and the Shoreland Hotel at 5454 South Shore Drive (Credit: LinkedIn)

Antheus Capital has refinanced another of its historic Hyde Park apartment complexes, days after it took out a loan on two other famed South Side buildings.

New-Jersey based Antheus secured a $69 million loan on the Shoreland Hotel luxury apartment building, 5454 South Shore Drive, Cook County property records show. The loan was recorded with the county April 30.

Five days prior, Antheus took out a $61 million refinancing on two other Hyde Park rental buildings, the Del Prado and Windmere House. Athene Annuity and Life Company was the lender in both cases, property records show.

The loans represent a massive financial restructuring of some of Antheus’ most prominent assets in Hyde Park, where it is one of the biggest residential landlords.

The Shoreland Hotel was built in 1926 and has hosted famous guests such as Eleanor Roosevelt, Al Capone and Elvis Presley. It was turned into dorms for the nearby University of Chicago in 1973 and was landmarked by the city in 2010.

The Shoreland was acquired by Antheus in 2009, and the redeveloped building featuring 330 apartments was delivered in 2013, according to Chicago Magazine.

Antheus’ last loan for the building came in 2014, when Wells Fargo lent $64.2 million, property records show.

The other two buildings Antheus recently refinanced also are historic former hotels now being used as rentals.

A representative for Antheus declined to comment on the refinancing.

Antheus’ property management arm, Mac Properties, owns 14 multifamily buildings in Hyde Park, which make up the majority of its national portfolio. The firm also owns five buildings in Kansas City and one in St. Louis, according to its website.

In spring 2018, Antheus secured a $60 million construction loan for its 26-story, 246-unit residential tower at 1600 East 52rd Street in Hyde Park.


Related Articles

arrow_forward_ios
Liberty Mutual at 27201 Bella Vista in Warrenville (Google Maps)

Chicago’s Q3 suburban office market hits highest vacancy in decade

Chicago’s Q3 suburban office market hits highest vacancy in decade
Mayor Lori Lightfoot (Getty, iStock)

Lightfoot to propose $94M property tax hike

Lightfoot to propose $94M property tax hike
Brian Whiting, CEO of Telos Group, and the Old Post Office (Credit: Google Maps)

Lonely at the top: 601W Cos. opens Old Post Office rooftop park in WFH world

Lonely at the top: 601W Cos. opens Old Post Office rooftop park in WFH world
Cars.com CEO Alex Vetter and the building (Credit: Google Maps)

Cars.com wants to shrink its space at West Loop HQ

Cars.com wants to shrink its space at West Loop HQ
Thor Equities’ Joseph Sitt and Palmer House Hilton at 17 East Monroe Street (Google Maps)

Thor’s Palmer House hit with $300M+ foreclosure suit

Thor’s Palmer House hit with $300M+ foreclosure suit
Cook County Assessor Fritz Kaegi and downtown Evanston

Cook County landlords get bad news about 2020 taxes

Cook County landlords get bad news about 2020 taxes
Joe Sitt and 905 W. Fulton Market (Credit: Thor Equities)

Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off
Ald. Walter Burnett (27th)

Alderman Burnett to lift ban on resi development in Fulton Market

Alderman Burnett to lift ban on resi development in Fulton Market
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...