Updated Mar 6, 2026
D2 Residential Provides $25.22 Million Loan To Rajen Shastri For Multifamily Property In Chicago
707 North Wells Street
$25,220,000
Units
43
Asset Type
MultiFamily
Closing
Mar 5, 2026
About this deal
AI
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.
On the Map
$25,220,000
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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93