Aries Capital Arranges $3.4M Loan for Acquisition of Restaurant Building Occupied by Hampton Social in Chicago
CHICAGO — Aries Capital has arranged a $3.4 million loan for the acquisition of an 8,700-square-foot restaurant building located at 164 E. Grand Ave. in Chicago’s Streeterville neighborhood. The Hampton Social fully occupies the property. Neil Freeman and Brandon Perdeck of Aries arranged the five-year, fixed-rate loan on behalf of the borrower, Rüger Holding, which is a Germany-based real estate owner and developer. A local bank provided the loan, which features an interest rate under 4 percent, a 60 percent loan-to-value ratio and a 25-year amortization schedule. Chicago-based Parker Restaurant Group owns and operates The Hampton Social, which will continue its 10-year lease that will end in 2027. Scott Maesel and Drew Dillon of SVN | Chicago Commercial represented the seller, R2, in the transaction. The property sold for $6.3 million.