Finance N Illinois

Cohen Financial arranges $20.7M in construction financing on multifamily project

  

Cohen Financial, a division of SunTrust Bank and a national real estate capital services firm, announced that it has arranged $20.7 million construction financing on a $36 million multifamily property development in Chicago’s Logan Square neighborhood.

The loan secured with Old Plank Trail Community Bank, a subsidiary of Wintrust, to develop the property. The property will feature 138 apartments, 9,300 square feet of retail, 44 parking spaces and is within walking distance of public transportation.

Michael Hart, managing director in the Cohen Financial Chicago office, arranged the construction financing.