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ELGIN, IL-An affiliate of Capital Realty & Development, based here, has received nearly $54.2 million in financing for a 17-building office and industrial portfolio in the Chicago suburbs. The term of the financing is 10 years, says Steve Roth, a partner with Chicago-based Cohen Financial, which secured the amount.

The loan-to-value is 75%. The lender was not disclosed except that it is a national life insurance company. The portfolio consists mainly of single-tenants buildings with small tenants such as manufacturers and distributors, Roth says. The affiliate, for which Cohen had also structured a capital plan, had separate loans for the properties, and the refinancing into one loan provides the company with more flexibility in addition to a cost savings, he says.

The portfolio has more than 750,000 sf of industrial and office space and includes buildings such as 1290 Ensell in Lake Zurich, as well as properties in Elgin, Elmhurst, Itasca, and Libertyville, Roth tells GlobeSt.com. The percentage of the portfolio occupied was not disclosed.

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