(For more retail coverage, click GlobeSt.com/RETAIL.)
CHICAGO-Structured Development recently secured a constructionloan for its $77-million mixed-use development at 1400 N. HalstedSt. Maverick Commercial Mortgage Inc. arranged a $70-millionconstruction loan for the project at the corner of West Blackhawkand North Halsted streets.
The interest-only loan has a term of three years with anoptional, one year extension, with the interest floating ratepriced off Libor, says Benjamin Kadish, president of MaverickCommercial Mortgage. A first lien security interest on thebuildings, land and construction contracts are collateral for thepartial recourse loan. The lender was not disclosed.
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