Updated Jul 25, 2025
Adam Friedberg Of Mavrek Development Secures $106.3M Refinancing From Canyon Partners In Chicago
535 North Saint Clair Street
$106,300,000
Units
248
Asset Type
MultiFamily
Closing
Jul 25, 2025
About this deal
AI
The transaction involves a newly completed multifamily asset consisting of 248 units located at 535 North Saint Clair Street in Chicago's Streeterville neighborhood. The refinancing loan amount secured for this property is $106,300,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $106,300,000
- Property Address: 535 North Saint Clair Street
- Market: Chicago
- Units: 248
- Lender: Canyon Partners Real Estate
- Landlord: Adam Friedberg - Mavrek Development
- Broker: JLL
- Loan Type: Refinance
Mavrek Development, under the leadership of Adam Friedberg, arranged this refinancing with Canyon Partners Real Estate, replacing a previous construction loan of $102,000,000. The deal showcases strong lender confidence attributed to high occupancy rates and rental growth in the area.
Players
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse Chicago multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93