Updated Mar 28, 2025
Mirae Secures $110.2 Million Refinance Loan From Fannie Mae For Multifamily Asset In Chicago
440 North Mcclurg Court
$110,200,000
$380/SF
Building Size
290,000 SF
Asset Type
MultiFamily
Closing
Mar 21, 2025
About this deal
AI
The asset involved in the transaction is a MultiFamily property located at 440 North Mcclurg Court in the Chicago market. The loan for this asset was refinanced for the amount of $110,200,000.00. The loan has a term of 5 years with 3 years of interest-only payments and an all-in rate of 5.39%.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $110,200,000.00
- Loan Type: refinance
- Loan Terms: 5yr Term | 3yrs IO | 5.39% All-in Rate
- Lender: Fannie Mae
- Landlord: Mirae
- Loan Date: 03/21/2025
The deal features Fannie Mae as the lender, providing the refinancing for the MultiFamily property. The landlord for the asset involved in the transaction is Mirae.
On the Map
$110,200,000
$380/SF
MultiFamily
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Players
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93