Circle Realty Advisors, Aries Capital, close $31M CMBS loan
July 20, 2010 | Staff Writer | Print Article | Email this Article
Circle Realty Advisors and Aries Capital have cooperated to secure and close a $31.1 million CMBS loan on a six-property, 1.4 million square foot industrial portfolio located throughout Wisconsin and Illinois.
Circle Realty Advisors acted as the investment advisor to the sponsor, while Aries Capital served as the mortgage banker. The 73.2 percent loan-to-value, non-recourse loan was used to retire existing debt and fund upcoming tenant improvement obligations. Additionally, the loan provided cash out proceeds to the sponsor. The loan was recently securitized and sold as part of a $700 million CMBS pool that came to market on June 18, 2010.
Tags | Aries Capital, Chicago, Circle Realty Advisors, CMBS, finance
© 2012 Real Estate Communications Group. Duplication or reproduction of this article not permitted without authorization from the Real Estate Publishing Group. For information on reprint or electronic pdf of this article contact Mark Menzies at 312-644-4610 or menzies@rejournals.com
