Mavrek Development And Fengate Capital Secure $130.4 Million Construction Loan For Multifamily Project In Chicago

1000 West Jackson Boulevard is a multifamily asset located in Chicago, IL, featuring a total of 380 units. The property is a 25-story development that also includes over 21,500 square feet of ground-floor commercial space, which has been pre-leased to ALDI, and about 31,000 square feet dedicated to indoor and outdoor amenities.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $130,400,000
• Lender: David Greenburg - Affinius Capital
• Landlord: Adam Friedberg - Mavrek Development; Lou Serafini Jr. - Fengate Capital
• Broker: John Parrett - CBRE
• Loan Type: Construction

Affinius Capital originated the construction loan for this joint venture project between Mavrek Development and Fengate Asset Management. The participation of key individuals in the deal includes Adam Friedberg and Lou Serafini Jr. representing the landlords, while John Parrett serves as the broker facilitating the transaction.