Aries Capital announced that Eric Jones, vice president, from the firm’s Chicago office completed two loans for the purchasers of two multifamily properties located in Chicago. Fannie Mae was the investor in both transactions.
In the first transaction, Aries Capital arranged a $1,810,000 loan for a 12-unit apartment building located at 857-859 N. Hoyne in Chicago’s Ukrainian Village neighborhood. The apartment complex features both one and two bedroom units.
Aries Capital arranged an additional $860,000 loan for the same borrower through the Small Balance Multifamily Program. Also situated in Ukrainian Village, this apartment property features six units and is located at 845 N. Leavitt in Chicago.
Aries Capital closed both loans under the Aries Capital Small Balance Multifamily Program. Clients with properties under $5 million gain financing benefits normally reserved for larger loans, through this program.
