Finance Midwest

Money360 enters $150 million repurchase facility with JPMorgan Chase

Money360, a technology-enabled direct lender specializing in commercial real estate loans, today announced that it has entered an agreement for a $150 million master repurchase facility with JPMorgan Chase Bank, N.A. (the “facility”), which it will use to finance commercial mortgage loan originations. The facility has a two-year term and permits advancement of up to 75 percent of commercial mortgage assets.

Finance N Illinois
Marina Crossings, the largest speculative industrial project in the city of Chicago in over a century.

Navigating the changing tides of CRE financing

In today’s world of commercial real estate finance, there is a vast ocean of cash available to fill a capital stack. The financing world has evolved in the post-recession years with alternative lenders emerging to fill the void left by bank consolidation, a decline in worldwide commercial mortgage backed securities (CMBS) issuance and a general decrease in risk appetite.

Finance N Illinois
Maverick Commercial Mortgage consulted on $93.8M River City deconversion sale

Maverick Commercial Mortgage consulted on $93.8M River City deconversion sale

Benjamin L. Kadish of Maverick Commercial Mortgage announced the closing of the financing for the $93,835,000 first mortgage loan for River City located at 800 S. Wells Street in Chicago. River City is a condominium building that the borrowing entity will deconvert into an apartment building. The complex process from the initial offer to closing all 447 units took more than three years.

Finance N Illinois
The Weinberg Community for Senior Living in Deerfield, Illinois.

HFF secures financing for Deerfield independent living development

Holliday Fenoglio Fowler, L.P. (HFF) has secured financing for an independent living community in the northern Chicago suburb of Deerfield, Illinois. The HFF team worked on behalf of affiliates of Banner Senior, LLC, the managing partner of a joint venture partnership that is developing the facility, to arrange joint venture equity through Harrison Street. Additionally, HFF worked on behalf of the new partnership to secure a $55.6 million, four-year, floating-rate construction loan through a national bank.