PGIM Real Estate Provides $101M Bridge Loan For Retail & Office Property In Chicago
FINANCED
$101,000,000
Illinois
See Similar DealsMixed-use168,206 SF
Financed 03/11/2022
FINANCED
PGIM Real Estate Provides $101M Bridge Loan For Retail & Office Property In Chicago
4501 W 42nd Pl, Chicago, Illinois 60632, United States
See Similar DealsMixed-use168,206 SF
Financed 03/11/2022
Summary
ILLINOIS
Asset Type:Mixed-use
Price Per Square Foot:$600
Total Square Footage:168,206 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$101,000,000.00
Monthly NOI$673,333.33
Monthly Debt Service$638,388.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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