January 18, 2019
SunTrust division Cohen Financial has arranged a refinancing for 70 E. Walton, a boutique luxury rental property in the Gold Coast neighborhood. Michael Hart, managing director in Cohen Financial’s Chicago office, closed a $19-million loan with a local bank.
The building is approximately 50,000 square feet, featuring 25 rental apartments and approximately 15,000 square-feet of retail space on its first through third floors. Hart arranged a fixed-rate, seven-year term loan.
The sponsor on 70 E. Walton is a private investor. The loan closed this past Monday.
“The 70 E. Walton building is a highly-desirable property, providing an amenity-rich lifestyle in the city close to North Michigan Avenue and Oak Street destinations,” said Hart.
For comments, questions or concerns, please contact Paul Bubny