Essex Capital Markets Arranges $1,912,000 Refinance For 11-Unit Multifamily Property In Chicago

The asset involved in this transaction is a multifamily property located at 4101 West Nelson Street, Chicago. The property consists of 11 units and has been refinanced for a total amount of $1,912,000. The loan is structured with a 6.00% interest rate and a loan-to-value (LTV) ratio of 75%. It shifts from an acquisition and construction loan to a permanent product with a 30-year amortization period.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $1,912,000
• Asset Address: 4101 West Nelson Street
• Market: Chicago
• Units: 11
• Loan Type: Refinance
• Loan Terms: 6.00% Rate | 75% LTV | Flex Prepay

The deal was facilitated by Asher Motew and Quinn Keenan from Essex Capital Markets, who arranged the refinancing with a local institution. Their role was crucial in transitioning the sponsor from a construction loan to a permanent financing solution.