CHICAGO-The owners of a retail building in Chicago's Gold Coast neighborhood have closed a $50-million loan on the property. Jonathan Stern of New York-based Meridian Capital Group LLC said that the 46,000-square-foot building at 25 E. Oak St. had no debt when the loan closed in late July.
Meridian arranged the financing for the owner, a venture that includes Ashkenazy Acquisition Corp. of New York. Goldman Sachs Group Inc. packaged the new debt into a CMBS loan and sold it off to investors. For the full story, go to Crain's Chicago Business .
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