CHICAGO, IL—Mission CapitalAdvisors' Debt and Equity Finance Group has arranged $13million of non-recourse, floating-rate financing on behalf of anaffiliate of the Sterling Organization torecapitalize 110 East Pearson Street, a9,000-square-foot vacant retail property in the heart of theMagnificent Mile section of Chicago.
Jonathan More, Alex Draganiuk, Lexington Henn,and Justin Hunt of the MissionCapital team secured the loan from ThorofareCapital, a Los Angeles-based national commercial realestate loan origination and servicing company. The loan features acompetitive leverage level with flexibility for future capitalexpense funding and leasing terms and will be used to capitalizethe property, lease up the available space and implementsignificant capital improvements.
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