ARIES CAPITAL ARRANGES $2.2M LOAN FOR CHICAGO MULTIFAMILY PROPERTY

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CHICAGO — Aries Capital has arranged a $2.2 million Fannie Mae loan for 693 North Peoria Ave., a 9-unit multifamily building in the River West neighborhood of Chicago. The borrowers were Douglas Crocker and Matt McHugh, active buyers in the Chicago multifamily market. Crocker is the former president of Equity Residential Properties, and McHugh is the managing member of Affito Group. Crocker and McHugh purchased the property last year. The 10-year, non-recourse Fannie Mae loan features a 4.13 percent interest rate with a 30-year amortization schedule. The building was completed and fully leased in December.

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