D2 Residential Provides $25.22 Million Loan To Rajen Shastri For Multifamily Property In Chicago

The asset involved in this transaction is a multifamily apartment building with 43 units located at 707 North Wells Street in Chicago. The loan amount provided for this property is $25,220,000, structured over a three-year term.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $25,220,000
• Address: 707 North Wells Street
• Market: Chicago
• Lender: D2 Residential
• Landlord: Rajen Shastri - Akara Partners
• Broker: JLL
• Units: 43
• Loan Terms: three-year

D2 Residential provided the financing for this deal, which replaces a previous $19 million loan from Pangea Properties for the 2016-built property. The financing was arranged by JLL Capital Markets on behalf of Akara Partners, represented by Rajen Shastri.