Maverick Commercial Mortgage Closes Freddie Mac Loan in the Amount of $2,670,000 for Chicago Multi-Family Property
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Matthew S. Cohen of Maverick Commercial Mortgage is proud to announce the closing of a Freddie Mac loan for a 13-unit
multi-family property located in the Wicker Park neighborhood of Chicago, Illinois. Collateral for the financing included a
beautiful timber-loft style building featuring 13 units comprising a mix of 2-bedroom and 1-bedroom units. All apartments
were updated to condo-quality finishes, including granite countertops, stainless steel appliances, marble bathrooms with
heated floors, separate utilities, in-unit laundry and near floor to ceiling windows.
The 20 year term, non-recourse, 55% loan to value Freddie Mac loan has a fixed-interest rate for a period of 10 years, a
floating rate period of 10 years, and amortizes over a 30-year schedule. Proceeds from the loan paid off the existing lender,
returned equity to the borrowing entity, and paid for closing costs. Mr. Cohen was able to close the loan at the exact
proceeds, rate and terms applied for. This was the third multi-family loan Mr. Cohen closed on behalf of this borrower in the
last 5 months. The loan was funded by a national lender.
About Maverick Commercial Mortgage, Inc.
Maverick Commercial Mortgage, Inc. arranges a wide variety of commercial real estate loans ranging from $2,000,000 to
$50,000,000 for its middle market real estate developer and investor clients.
Please contact Matthew S. Cohen at 312-268-6001, 847-420-3516, or at matt.cohen@mavcm.com.