Lincoln Educational Services completes $18.8M property acquisition in Melrose Park, IL with $15.04M Provident Bank loan

LINCOLN EDUCATIONAL SERVICES CORP

Acquired facility and real property at 8315-8317 W. North Avenue, Melrose Park, IL for $18.8M from Melrose Omni, LLC.
Funded with $15.04M mortgage from Provident Bank at 5.99% fixed for 5 years, then floating at 1.75% over 5-year Treasury (min 5%).
Loan matures July 1, 2036; monthly payments of ~$97,628 starting August 1, 2026.
Property previously operated as Melrose Park campus under lease; now owned.
Loan secured by mortgage on property and guaranty from parent and subsidiaries.

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