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Adam Friedberg Of Mavrek Development Secures $106.3M Refinancing From Canyon Partners In Chicago
FINANCED
$106,300,000
Illinois
See Similar DealsMultiFamily
Financed 07/25/2025
FINANCED
Adam Friedberg Of Mavrek Development Secures $106.3M Refinancing From Canyon Partners In Chicago
535 North Saint Clair Street
See Similar DealsMultiFamily
Financed 07/25/2025
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Loan
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
BROKERAGE
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$106,300,000.00
Monthly NOI$708,666.67
Monthly Debt Service$671,888.31
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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