Pulaski Promenade

$11,800,000 Retail Loan from Life Insurance Company

City: Chicago, Illinois
Loan amount: $11,800,000
Lender type: Life Insurance Company
Property type: Retail
Size: 122,710 SF

Transaction description

Kostas Kavayiotidis and Matthew Farzinpour of PSRS arranged the $11.8 million acquisition financing of a retail shopping center in Chicago, Illinois. The subject property is a 122,710-square-foot shopping center development built in 2015 containing national retailers such as Marshalls, Ross Dress for Less, PetSmart, Shoe Carnival, and Ulta. The property has excellent visibility, pylon signage, signalized entrances, and access via public transportation on a major thoroughfare. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a non-recourse, 10-year loan term (seven years interest only) with a 30-year amortization.

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