Sue Blumberg, senior vice president/managing director and Erik Kunz, vice president of NorthMarq Capital‘s Chicago based regional office arranged financing of $13.3 million for Kingsbury Center, a 135,265-square-foot office building located in Chicago, Illinois.
The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower, which includes the Hochberg family, through its correspondent relationship with a life insurance company.
“This is a fabulous property in Chicago’s River North neighborhood that is well managed and 100 percent occupied. Much of the space has been upgraded with superior tenant finishes,” Blumberg said. “The River North neighborhood is among the most active real estate markets in the Midwest,” added Andrew Hochberg, CEO of Next Realty.
