Cain International Provides $117M Loan For Condo Complex In Chicago
FINANCED
$117,000,000
Illinois
See Similar DealsFinanced 11/09/2021
FINANCED
Cain International Provides $117M Loan For Condo Complex In Chicago
234 West Polk Street, Chicago, IL, USA
See Similar DealsFinanced 11/09/2021
Summary
ILLINOIS
Transaction Type:Loan
A $117 million loan has been secured for a condo property located at 234 West Polk Street in Chicago. The property consists of 440 units spread across 7 acres. The loan was provided by Cain International, with Matthew Rosenfield representing the lender.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $117,000,000
- Address: 234 West Polk Street
- Market: Chicago
- Number of Units: 440
- Land Area: 7 acres
The landlord of the property is Lendlease & Aware Super. The loan amount of $117 million will contribute to the financing of this condominium asset. This transaction demonstrates the confidence and investment in the Chicago real estate market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$117,000,000.00
Monthly NOI$780,000.00
Monthly Debt Service$739,519.59
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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