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Fannie Mae Provides $67.58M Refinance For MultiFamily Portfolio In Chicago & Park Ridge

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FINANCED
$67,577,000
Maxwell (Max) Hulsh
Andrew Cohen
Max Herzog
+ 1

Illinois

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MultiFamily2,495,460 SF
Financed 02/26/2024
the dealplayerscompscontact
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FINANCED

Fannie Mae Provides $67.58M Refinance For MultiFamily Portfolio In Chicago & Park Ridge

2-10 South Greenwood Avenue, 211 East Delaware Place, 1837 West Patterson Avenue, 629 West Deming Place, 925 West Dakin Street, 2051 North Sedgwick Street, 1157 West Diversey Parkway, 2244 North Cleveland Avenue, 1215 West Diversey Parkway & 825 West Fullerton Avenue

See Similar Deals
MultiFamily2,495,460 SF
Financed 02/26/2024
Maxwell (Max) Hulsh
Andrew Cohen
Max Herzog
+ 1
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$27
Total Square Footage:2,495,460 SF
Transaction Type:Loan

The MultiFamily portfolio located at 2-10 South Greenwood Avenue, 211 East Delaware Place, 1837 West Patterson Avenue, 629 West Deming Place, 925 West Dakin Street, 2051 North Sedgwick Street, 1157 West Diversey Parkway, 2244 North Cleveland Avenue, 1215 West Diversey Parkway, and 825 West Fullerton Avenue in Chicago and Park Ridge consists of a total of 558 units with a combined square footage of 249,546. The refinancing loan for this portfolio was facilitated by Fannie Mae.

Summary of transation details:

Max Herzog, Marko Kazanjian, Andrew Cohen, and Maxwell Hulsh from Institutional Property Advisors (IPA) were the brokers involved in facilitating the refinancing of the multi-family portfolio. Their expertise and knowledge played a crucial role in securing the $67,577,000 refinance loan with Fannie Mae, showcasing a successful transaction in the Chicago and Park Ridge markets.

Players

Marko Kazanjian
Institutional Property Advisors
Marko Kazanjian
71 deals$5.4B volume
BROKER
Max Herzog
Institutional Property Advisors
Max Herzog
80 deals$5.4B volume(212) 430-5165
BROKER
Andrew Cohen
Institutional Property Advisors
Andrew Cohen
43 deals$3B volume
BROKER
Maxwell (Max) Hulsh
Institutional Property Advisors
Maxwell Hulsh
32 deals$2.8B volume(646) 549-3692
BROKER
Fannie Mae
Fannie Mae
LENDER

Details

FINANCED
IMAGE: Max Herzog, Marko Kazanjian, Andrew Cohen & Maxwell Hulsh DATE: 02/26/2024 ADDRESS: 2-10 South Greenwood Avenue, 211 East Delaware Place, 1837 West Patterson Avenue, 629 West Deming Place, 925 West Dakin Street, 2051 North Sedgwick Street, 1157 West Diversey Parkway, 2244 North Cleveland Avenue, 1215 West Diversey Parkway & 825 West Fullerton Avenue MARKET: Chicago & Park Ridge ASSET TYPE: MultiFamily Portfolio ~ UNITS: 558 ~ SF: 249,546 LENDER: Fannie Mae (@OfficialFannieMae) BROKERS: Max Herzog, Marko Kazanjian (@MarkoKaz), Andrew Cohen (@The_Andrew_Cohen) & Maxwell Hulsh (@MaxHulsh) - Institutional Property Advisors (IPA) LOAN AMOUNT: $67,577,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$67,577,000.00

Monthly NOI$450,513.33
Monthly Debt Service$427,132.61
Change in Cash Flow$0.00
Refinance Proceeds$0.00