Maverick Commercial Mortgage, Inc. has funded a first mortgage loan for $7,500,000 with a repeat borrower based in Bethesda, MD. The loan, provided by a regional bank, is a 5 year loan that will be swapped at closing to provide a competitive 5-year fixed rate loan. A por-tion of the loan proceeds will be used for capital improvements to the property post closing. The subject property is a fully occupied multi-tenant industrial building on Chicago’s south side. The building is 100% leased to 2 ten-ants, Chicago Transit Authority and SCR Transportation. The industrial market on the south side is effectively close to full occupancy This is Maverick’s second time closing a loan with this client. Maverick financed the closing of the adjacent properties with this borrower allowing for the creation of an industrial park by this borrower. The borrower, 1788 Holdings, LLC, is a Maryland based national real es-tate investment firm specializing in purchasing and repositioning older vintage light industrial properties and industrial outdoor storage properties. About Maverick Commercial Mortgage, Inc. Maverick Commercial Mortgage, Inc., arranges a wide variety of commercial real estate loans ranging from $2,000,000 to $100,000,000 for its middle market real estate developer and investor clients.
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Maverick Commercial Mortgage, Inc. has funded a first mortgage loan for $13,000,000 with a repeat borrower based in Chicago, IL. The
loan, provided by a regional lending institution, is a 5 year loan fixed at a competitive rate . The loan proceeds will be used to refinance
the current loan on the property.
The subject property is a stabilized luxury rental building on Chicago’s Northwest side. The building is a 54 unit property with studio, 1,
2, and 3 bedroom apartment and loft options.
The borrower is a Chicago based luxury, single family and multi family residential developer and owner. This is a repeat borrower for
Maverick having closed well in excess of $250M on their behalf as well as financing the construction loan on this property in December of
2020.
About Maverick Commercial Mortgage, Inc.
Maverick Commercial Mortgage, Inc., arranges a wide variety of commercial real estate loans ranging from $2,000,000 to $100,000,000
for its middle market real estate developer and investor clients.
Please contact Ben Kadish at 312-268-6000, 312-953-4344, or at ben.kadish@mavcm.com.