Adam Friedberg Of Mavrek Development Secures $106.3M Refinancing From Canyon Partners In Chicago

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.