ARIES ARRANGES $1.6M LOAN FOR CHICAGO APARTMENT BUILDING

CHICAGO — Aries Capital has arranged $1.6 million in acquisition financing on behalf of Metro Property Group for a 65-unit apartment building in Chicago. A private lender provided the 10-year, non-recourse loan, which includes a 5.67 percent interest rate and a 30-year amortization schedule. The property is located at 7733 S. South Shore. Eric Jones, vice president at Aries Capital’s Chicago office, arranged the financing. Metro Property Group owns several single-family residential properties throughout the United States. This is the borrower’s first commercial real estate purchase in the U.S.