Northmarq finalizes $8.7 million refinance of Buona Beef Portfolio located in Chicagoland, Illinois
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.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
