Alliant Capital LLC has closed two multifamily loans for the same borrower totaling more than $9 million. Proceeds from these two refinance transactions were used to surrender existing short term bank financing and provide the borrower with a recapitalization of equity. These transactions were originated by Aaron Abelson, Alliant’s senior vice president for the Midwest Region, in Chicago Metropolitan office.
These loans were closed on Sept. 21. Details are as follows: Fitch Commons, a 60-unit mid-rise apartment, built in 1954 is located in Chicago. The loan amount is $4 million with a 4.20 percent interest rate and a 10-year fixed rate term. Riverwest Commons, a 105-unit mid-rise apartment, built in 1962 is located in Elgin. The loan amount is $5.25 million with a 3.70 percent interest rate and a seven-year fixed rate term.
