NorthPoint Capital Funding, Inc. has refinanced a $5.5 million loan on an office building in Glenview, Illinois.
Built in 1970, the 44,000-square-foot property is located at a high-traffic intersection in the upper-middle class suburb, within the near North Chicago submarket.
“The borrower was seeking a long term loan that offers the flexibility of a bank without the restrictive covenants required by bank regulators,” says originator and director Mark Perkowski.
To accommodate the property owner’s loan priorities, Perkowski worked closely with Kansas City Life Insurance Company to structure a 20 term loan with flexible prepayment.
