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

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FINANCED
$25,220,000

Illinois

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MultiFamily
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FINANCED

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

707 North Wells Street

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MultiFamily
Financed
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Loan

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.

Players

JLL
JLL
BROKERAGE
D2 Residential
D2 Residential
LENDER
Rajen Shastri
Rajen Shastri
2 deals$126.2M volume
LANDLORD

Details

FINANCED
IMAGE: Rajen Shastri DATE: 03/05/2026 ADDRESS: 707 North Wells Street MARKET: Chicago ASSET TYPE: Multifamily ~ UNITS: 43 LENDER: D2 Residential LANDLORD: Rajen Shastri - Akara Partners BROKER: JLL (@JLL) LOAN AMOUNT: $25,220,000 LOAN TERMS: three-year NOTE: D2 Residential provided a $25.22 million three-year loan for Chateau on Wells, a 43-unit apartment building at 707 N. Wells St. in Chicago owned by Akara Partners.JLL Capital Markets arranged the financing, which replaces a $19 million loan from Pangea Properties on the 2016-built property.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$25,220,000.00

Monthly NOI$168,133.33
Monthly Debt Service$159,407.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00