December 10, 2020
Matthew Cohen of Maverick Commercial Mortgage closed on a $2,500,000 first mortgage loan for a portfolio of multi-family properties located on the North and West Sides of Chicago.
Collateral for the first mortgage represented four buildings and a combined 20 units located in the Lincoln Square and Ukrainian Village neighborhoods.
The partial-recourse, 75% loan to value first mortgage financing has a fixed-interest rate for a period of 8 years and amortizes over a 30-year schedule. Proceeds from the loan paid off the existing lender, returned equity to the undisclosed borrowing entity and paid for closing costs. The loan was funded by a national lender.
For comments, questions or concerns, please contact Paul Bubny