Finance

Michael W. Reschke and The Prime Group, Inc. secure $141M refinancing for Residence Inn Chicago

Prime LaSalle/Madison Partners, LLC (PLMP)—the owner of the 381-key Residence Inn Chicago Downtown/Loop located at 11 S. LaSalle Street—has closed on $141 million of new…

Distressed assets, distressed market: When’s the right time to buy?

Last spring, the capital markets almost universally contracted in response to the COVID-19 pandemic. Since then, a few intrepid investors have deployed capital. In both…

KBS completes $375 million in refinancing for Accenture Tower

KBS secured a $375 million refinancing loan for Accenture Tower, a 40-story, 1.46-million-square-foot office tower owned by KBS REIT III and located at 500 W.…

Nick Jans joins Red Oak Team in Texas regional role

Red Oak Financial, a Michigan-based commercial real estate finance company, added Nicolas “Nick” Jans to the firm’s growing team. He was named regional manager and…

Opportunity Zone tax questions? IRS releases extended guidance on qualified opportunity fund relief

In Notice 2021-10, the IRS released extended guidance and relief for various opportunity zone requirements during the COVID-19 pandemic.

REEP Equity gets financing for Chartwell Court, plans to renovate

JLL’s capital markets team arranged acquisition financing for Chartwell Court, a multi-housing property located in Houston. JLL worked on behalf of the borrower, REEP Equity,…

Trez Capital closes loan for new multifamily development in Arlington

Trez Capital announced the funding of a $8.7 million acquisition and development loan for Provident Realty Advisors’ new project, Debbie Lane Flats, a 331-unit multifamily…

Four-building distribution and manufacturing facility receives acquisition financing

JLL’s capital markets team has arranged $14.4 million in acquisition financing for a four-building, 649,361-square-foot manufacturing and distribution facility at 4040 Forest Lane in the…

Streeterville restaurant property sells to German real estate owner/developer

Aries Capital, LLC has closed a $3.4 million non-recourse loan for the acquisition of an 8,700-square-foot restaurant building at 164 E. Grand Avenue in Chicago’s…

Berkadia loans $39.1 million for apartment communities in Missouri, Illinois

Berkadia provided $39.1 million in combined HUD-insured financing for Covington Place Apartments and Cape Cod Village Apartments, market-rate, garden-style multifamily properties in Missouri and Illinois.…

Finance

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