COHEN ASSISTS WITH $122.5 MILLION MULTIFAMILY PORTFOLIO PURCHASE

CHICAGO — Chicago-based Cohen Financial has assisted in the $122.5 million acquisition of a seven-property multifamily portfolio in Chicago. The portfolio comprises 884 residential and eight commercial units located in the city’s Lakeview neighborhood. Cohen served as an advisor to the borrower, Chicago-based Newcastle Limited, and assisted in the acquisitions. Cohen also originated $5 million in second-mortgage financing for one of the properties, and $9.62 million in new financing with a GSE agency for two of the properties. Terms of the new debt include 10 years interest only at a 5.63 percent interest rate. Steve Roth and Steve Kundert of the Cohen’s Skokie, Ill., advised Newcastle and originated the financing. The lender is a Chicago-area finance company.