Maverick Commercial Mortgage, Inc. secured financing for a three-tenant, 5,800-square-foot retail property in the Gold Coast, Chicago.
The loan, provided by a national lender, is a competitively priced three-year fixed rate loan, at 6.45%. The loan amortizes on a 25-year schedule. This is a $974 per square foot loan. The borrower, JDI Realty, is a Chicago based private equity real estate investment firm that purchased the property as part of a fund.
The property is a 100% occupied retail property in the Gold Coast neighborhood of Chicago. Gold Coast is one of the most desirable luxury submarkets in the US with designer fashion brands occupying the area.
