CHICAGO — A limited liability company, sponsored by Structured Development, has secured a $75 million loan for a Chicago mixed-use property located at 1400-1460 N. Halsted St. Benjamin Kadish of Maverick Commercial Mortgage Inc. arranged the first mortgage debt and mezzanine financing through Deutsche Bank and Prime Finance. Structured Development completed the property in 2007, which includes educational, retail and medical office components. The property is 94 percent occupied and tenants include British Schools of Chicago, Advocate Health Centers and Diamond Headache Center. The five-year, fixed-rate loan and additional capital will allow the borrower to refinance and recapitalize the property, and buy out the former equity partner in the transaction.
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