Maverick Commercial Mortgage, Inc. has successfully arranged a first mortgage loan for $7.5 million with repeat borrower 1788 Holdings, LLC for a multi-tenant building located at 1120 E. 89th Street in Chicago, Illinois. The five-year loan was provided by a regional bank and will be swapped to provide the borrower with competitive fixed rate financing at closing time. A portion of the proceeds from this loan will be used to fund capital improvements on the property after closing is complete.
The subject property is an industrial building that spans 150k square feet and is fully leased out to both Chicago Transit Authority and SCR Transportation tenants on Chicago’s south side – making it Maverick’s second closed deal with 1788 Holdings; Maryland based real estate investment firm specializing in purchasing older industrial properties as well as outdoor storage facilities alike.. This particular transaction also included adjacent properties which allowed for creation of an entire industrial park under one ownership entity upon completion of all closings involved .
Maverick Commercial Mortgage continues its commitment towards providing reliable financial services through successful funding arrangements such as this one!
