Financing comes in the form of a 10-year non-recourse loan priced based on 10-year US Treasury rates and amortized over 29 years. It was arranged by the Deerfield office of Cohen Financial's capital markets unit.
"This acquisition is a joint venture with specific investors including Syndicated Equities Corp. and follows our strategic plan of obtaining and improving assets for long-term ownership," says Richard Tucker, president of the Highland Park-based company.
Tucker Development Corp. portfolio includes the Yorkville Marketplace in far west suburban Yorkville, Country Club Plaza in Country Club Hills and Wheatland Marketplace in Naperville.
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