NorthMarq Capital secures $13.3 million refinance for Kingsbury Center in Chicago, Illinois

Kingsbury Center
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.

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.

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