Fred Latsko Refinances Gold Coast Retail Portfolio With $34M Loan From JDI Realty
66 E Walton St Chicago, IL 60611, USA
$34,000,000
Building Size
—
Asset Type
Retail
Closing
Sep 1, 2023
AI
Fred Latsko, CEO of Latsko Interests, has obtained a $34 million loan from JDI Realty for his Gold Coast high-end retail portfolio in Chicago. The properties included in the portfolio are located on East Walton Street, 900 North Rush Street, 41 East Oak Street, and 23 West Maple Street. These luxury retail spaces form an impressive collection in Chicago's retail market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $34,000,000
- Mortgaged Properties: East Walton Street, 900 North Rush Street, 41 East Oak Street, 23 West Maple Street
- Mortgage Lender: JDI Realty
- Landlord: Latsko Interests - Fred Latsko
This refinancing deal, secured by Fred Latsko, showcases the trust and confidence placed by JDI Realty in Latsko Interests' retail portfolio. With this loan, Fred Latsko can further enhance and develop his prime high-end retail properties in Chicago's Gold Coast area, solidifying his position as a prominent player in the city's retail sector.
Players
Chicago Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93