PGIM Real Estate Provides $101M Bridge Loan For Retail & Office Property In Chicago
4501 W 42nd Pl, Chicago, Illinois 60632, United States
$101,000,000
$600/SF
Building Size
168,206 SF
Asset Type
Mixed-use
Closing
Mar 10, 2022
About this deal
AI
Located at 4501 W 42nd Pl in Chicago, this property is a combination of retail and office space spanning 168,206 square feet. The transaction took place on March 11, 2022.
Summary of transaction details
- Property Type: Retail & Office
- Transaction Date: March 11, 2022
- Address: 4501 W 42nd Pl, Chicago
- Market: Chicago
- Square Footage: 168,206
PGIM Real Estate, represented by Trace Wilson, provided a bridge loan of $101,000,000 for this transaction. Asana Partners serves as the landlord for the property.
Players
Chicago Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93