Finance N Illinois
Heather Ridge, 9500 14th Street West, Rock Island, Illinois.

Berkadia secures $34M in HUD rehab financing for multifamily portfolio

Berkadia announced the origination of $34.27 million in construction-to-permanent substantial rehabilitation financing for a two-property portfolio in Rock Island, Illinois, where 100 percent of the units are covered by project-based HAP contracts. The construction loan features an interest-only construction period, a 40-year term with 40-year amortization and a 90 percent loan-to-value ratio.

Finance N Illinois
CBRE lines up financing for West Loop office building

CBRE lines up financing for West Loop office building

CBRE recently represented RDG Funds LLC in the financing of 156 N. Jefferson Street, a class A, loft office building located in Chicago’s West Loop. John Parrett, Molly Green and Harrison Addy in the Chicago office led the CBRE capital markets debt and structured finance team in securing the $8.3 million, long-term, fixed-rate financing with a life company lender.

Finance N Illinois
Craig Smiddy;Old Republic International Corporation

Old Republic shuffles senior executive ranks

Old Republic International Corporation (ORI) announced several changes in its senior executive ranks effective October 1, 2019. Craig Smiddy, ORI's president and chief operating officer, will assume the position of president and chief executive officer following the retirement of R. Scott Rager and Aldo C. Zucaro. Smiddy will concurrently join the board of directors and its executive committee.