The larger deal was done at a 65% loan-to-value, which pegs the value of the asset on the north side of the county line at $70.57 per sf. The five-year loan is priced on the five-year Treasury rate, and is on a 15-year amortization schedule.
Meanwhile, the deal involving the Kennedy Corporate Center was done on an 80% loan-to-value, putting the value of the asset at $4 million and just slightly more than $100 per sf. It also represents a 28% increase from what the building traded at three years ago.
Although the deal is for five years, pricing is based on the three-year Treasury rate and amortization is over 25 years.
Cohen Financial's Don Trossman originated both loans. Money for the Buffalo Grove deal came from an insurance company, while a bank provided funds for the Palatine deal.
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