Essex Capital Markets Arranges $5,899,000 Refinance For Chicago Multifamily Portfolio

The assets involved in this transaction include a four-property multifamily portfolio located in Chicago's Ukrainian Village, Wicker Park, and West Town neighborhoods. The properties are situated at 1501 West Superior Street, 1625 North Claremont Avenue, 2225 West Rice Street, and 1617 North Maplewood Avenue. The portfolio consists of 27 units and was refinanced for a total loan amount of $5,899,000, featuring a blended rate of 5.59% with partial interest-only terms and a non-recourse loan structure.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $5,899,000
• Loan Type: Refinance
• Loan Terms: 5.59% Blended Rate | Partial IO | Non-Recourse
• Capital Markets Advisors: Asher Motew & Quinn Keenan - Essex Capital Markets
• Blended LTV: ~66%
• Location: Chicago
• Assets: 1501 West Superior Street, 1625 North Claremont Avenue, 2225 West Rice Street, 1617 North Maplewood Avenue

Essex Capital Markets facilitated the refinancing for a long-term family office client, securing a non-recourse financing solution through a national lender. The transaction aimed to address upcoming rate adjustments while providing competitive pricing and a repeatable refinance solution for the client's remaining portfolio as loans continue to mature.