Beal Properties Chicago Secures $20.8 Million Refinance Loan From Wells Fargo For Mixed-Use Asset

The mixed-use and multifamily asset located at 2200 North Clark Street & 540 West Surf Street in Chicago features 90 units and falls within a significant urban market. The transaction involved a refinance of a loan amounting to $20,800,000.

Summary of transaction details:

• Property Type: Mixed-Use & Multifamily
• Transaction Amount: $20,800,000
• Lender: Wells Fargo
• Landlord: Beal Properties Chicago
• Brokers: Asher Motew & Quinn Keenan - Essex Capital Markets
• Loan Type: Refinance
• Loan Terms: Balance Sheet Execution | Max Leverage | Equity Cash-Out

Essex Capital Markets facilitated the transaction by coordinating with existing and new lending relationships, producing high-quality underwriting materials. They handled lender communication, negotiations, and execution, ensuring the sponsor could concentrate on portfolio operations and providing all capital sources the opportunity to offer their best competitive terms.