In addition, a 40,000-sf building in Willowbrook leased to grocery chain Whole Foods was refinanced for $4 million. Both deals were arranged by Cohen Financial's capital markets unit.
The 10-year, non-recourse loan for Yorkville Marketplace is at 75% loan-to-value, amortized over 30 years and priced based on 10-year Treasury rates. A correspondent life insurance company provided the money in a deal originated by Joel Simmons.
A bank is the lender for the six-year, non-recourse loan that uses the Whole Foods store as collateral. Also written at 75% loan-to-value, pricing is based on the five-year Treasury rate and amortized over 25 years in a deal originated by Steven Skok.
Simmons also originated an $8.45 million loan for the owners of the 84,960-sf Champaign Town Center at 712 Town Center Blvd. in the Downstate college town. The 10-year non-recourse loan was written at 80% loan-to-value.
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