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Cedar Street Companies Acquires 342-Unit Multifamily Property In Chicago For $81.7M

5050 North Broadway Avenue⁠
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This MultiFamily property located in IL received a loan of $81,700,000 over 3 years ago. The broker of the deal was Craig Foreman

The loan transaction involving the multifamily property located at 5050 N. Broadway Avenue in Chicago has taken place. The property consists of 342 units and has been financed by Cedar Street Companies, with Erik Larson representing the company. The loan amount for this transaction is $81,700,000, and the terms of the loan include a 12-year term with only interest payments required for the first six years.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $81,700,000
  • Lender: Cedar Street Companies - Erik Larson
  • Broker: Craig Foreman - PGIM Real Estate

Representing the lender, Cedar Street Companies, is Erik Larson. The broker involved in the transaction is Craig Foreman from PGIM Real Estate.

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Deals
  • Location
    5050 North Broadway, Chicago, IL, USA5050 North Broadway, Chicago, IL, USA
  • Loan Value
    $81,700,000$81,700,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    1 Broker, 1 Lender1 Broker, 1 Lender

Agent

Craig Foreman

Craig Foreman

Deals1
Financed$81.7M

Cedar Street Companies

Cedar Street Companies

Lender
Deals1
Volume$ 81.7M

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Deal Summary

LOAN⁠ IMAGE: Erik Larson & Craig Foreman⁠ DATE: 12/16/2020⁠ ADDRESS: 5050 N. Broadway Avenue⁠ MARKET: Chicago⁠ ASSET TYPE: Multifamily⁠ UNITS: 342⁠ ⁠ LENDER: Cedar Street Companies - Erik Larson⁠ BROKER: Craig Foreman - PGIM Real Estate⁠ ⁠ LOAN AMOUNT: $81,700,000⁠ LOAN TERMS: 12-year term and requires only interest payments for the first six years⁠

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5050 North Broadway Avenue⁠

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