Northmarq finalizes $8.7 million refinance of Buona Beef Portfolio located in Chicagoland, Illinois
Buona Beef Portfolio
CHICAGO, ILLINOS (March 11, 2022) – Erik Kunz, vice president in Northmarq’s Chicago debt/equity office, arranged the $8.7 million refinance of a portfolio of Buona Beef properties located throughout the Chicagoland area. The six single-tenant properties consist of a combined 47,177 sq. ft. The permanent-fixed loan was structured with a 10-year term on a 17-year amortization schedule. Northmarq secured financing for the borrower through its relationship with a correspondent life insurance company.
“The lender has the existing loans on the three restaurants and was able to cross with the sponsor's corporate office and catering building,” noted Kunz.
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
