NorthMarq Capital secures $13.3 million refinance for Kingsbury Center in Chicago, Illinois
Kingsbury Center
CHICAGO (August 10, 2015) – Sue Blumberg, senior vice president/managing director and Erik Kunz, vice president of NorthMarq Capital’s Chicago based regional office arranged financing of $13.3 million for Kingsbury Center, a 135,265 sq. ft. office building located in Chicago, Illinois. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower, which includes the Hochberg family, through its correspondent relationship with a life insurance company. “This is a fabulous property in Chicago’s River North neighborhood that is well managed and 100 percent occupied. Much of the space has been upgraded with superior tenant finishes,” noted Blumberg. “The River North neighborhood is among the most active real estate markets in the Midwest,” added Andrew Hochberg, CEO of Next Realty.
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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.
