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CHICAGO – Aries Capital has completed a $2.8 million loan for the purchase of a 37-unit apartment complex in Chicago’s Logan Square neighborhood. Fannie Mae was the investor in the transaction. The apartment complex, located at 1944 N. Spaulding, is a courtyard building including a mix of one- to four-bedroom units. The 10-year, non-recourse loan features a 30-year amortization schedule. The borrower has completed the development of more than 1,250 residential units and currently owns and operates several properties in Chicago. Eric Jones, vice president from the firm’s Chicago office, arranged the loan.