A low-profile Chicago apartment building owner has refinanced an 11-property portfolio that stretches from Hyde Park to Evanston with two new loans totaling $50 million.
Ventures managed by Stuart Handler, CEO of Chicago-based TLC Management Co., took out a $24.7-million loan from Capmark Finance Inc. on four of the properties and a $25.3-million loan from Northern Trust Co. on the remaining seven apartment buildings, according to mortgage records filed with the Cook County Recorder of Deeds.
The new mortgages replace a $43.6-million loan issued to Mr. Handler’s ventures in 2004 by Minneapolis-based Northmarq Capital Inc.
More: Apartment Owner Gets $50 Million in Refinancing Loans
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.
Leave a Comment