REBusinessOnline

Cohen Financial Secures $22M Acquisition Loan for Loft Office Building in Chicago

Lacuna Lofts spans 220,000 square feet.

CHICAGO — Cohen Financial, a division of SunTrust Bank, has secured a $22 million loan for the acquisition of Lacuna Lofts in Chicago’s Pilsen neighborhood. The 220,000-square-foot property includes office, retail and event space. The loft building once served as a macaroni factory. Michael Hart and Ryan Morris of Cohen arranged the bridge loan, which provides capital for enhancing the base building, tenant improvements and expanding the event space. The borrower was a partnership between Ameritus and JBG Property. John Scuras of Jameson Commercial represented the seller.

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