NORTHMARQ ARRAGES LOAN FOR MEDICAL OFFICE BUILDING SITE

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NORTHBROOK, ILL. — NorthMarq Capital has arranged approximately $4.13 million in first mortgage financing for ENH Ground Lease, a 98,000-square-foot site located in Northbrook. NorthShore University Healthsystem is the major tenant of the property, and has plans to construct a 30,000-square-foot medical office building at the site. The loan was based on a 10-year term, with a 30-year amortization schedule. Jeffrey Cherner and Michael Miller in the Chicago office of NorthMarq arranged the loan on behalf of 445 Venture LLC. Financing was arranged for the borrower by NorthMarq through its relationship with AVIVA Investors. According to Cherner, the ground lessee and owner of the leasehold improvements has a credit rating of AA-.

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