$24.2 Million Refinance Secured For 104-Unit Multifamily Asset In Chicago By CBRE Brokers

This transaction involves a multifamily asset located in the Chicago market. The property consists of 104 units, encompassing a total square footage of 91,178. The loan amount for this transaction is $24,200,000, structured as a refinance with specific terms that include a 73% loan-to-value ratio, a 30-day close, and a non-recourse agreement. It features a fixed rate, interest-only payments, and does not involve a lock box or cash management, with an 8.25% debt yield.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $24,200,000
• Units: 104
• Square Footage: 91,178
• Market: Chicago
• Loan Type: Refinance
• Loan Terms: 73% LTV, 30-day close, non-recourse, fixed rate, interest-only, no lock box or cash management, 8.25% debt yield

The brokers involved in this transaction are Edward Petti, Andres Leon, and Lexi Koerber, representing CBRE in the deal. Their involvement highlights the professional expertise brought to the transaction, aiding in its successful execution.