Pangea Properties Provides $19M Loan For Hensley Multifamily In Chicago

The Hensley, a 43-unit apartment building located at 707 North Wells Street in Chicago, has secured $19 million in financing from Pangea Properties. This multifamily asset owned by Rajen Shastri of Akara Partners features two-bedroom units and various amenities. Previously encumbered by a $22.1 million loan from Greystone, the property is now supported by the new loan provided by Pangea Properties.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $19,000,000
• Units: 43
• Lender: Pangea Properties
• Landlord: Rajen Shastri - Akara Partners

Pangea Properties, the lender in this transaction, provided the financing to support the Hensley apartment building. The ownership of Akara Partners, led by Rajen Shastri, plays a key role in the property's management and operations.