CEDARst Cos. Refinances Duncan Apartments With $44M CMBS Loan In Chicago
1515 West Monroe Street
MultiFamily
Financed 66 days ago
Summary
The multifamily property located at 1515 West Monroe Street in Chicago consists of 260 units. The property was refinanced with a $44 million CMBS loan from Citigroup. The loan features a fixed interest rate of 6.67 percent over a five-year term.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $44,000,000
- Market: Chicago
- Lender: Citigroup
- Landlord: Will Murphy - CEDARst Cos.
- Broker: Berkadia
- Loan Type: Refinance
- Loan Terms: 6.67 percent fixed interest rate over a five-year term
CEDARst Cos. arranged the refinancing of Duncan Apartments in Chicago with the $44 million CMBS loan from Citigroup, facilitated by Berkadia. Following the property's redevelopment in 2020, the real estate firm fully repaid a $51.5 million mortgage from ACRE and obtained additional equity from a Midwest-based family office.
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1515 West Monroe Street
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