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MAVERICK COMMERCIAL MORTGAGE ARRANGES REFINANCING OF HOME DEPOT

CHICAGO — Maverick Commercial Mortgage has arranged $14.7 million in first-mortgage refinancing for a 103,550-square-foot Home Depot located at 200-232 W. 87th St. in Chicago. The building also contains a 27,972-square-foot garden center, as well as parking for 527 vehicles. The loan is priced over the 10-year U.S. Treasury, and has an 80 percent loan-to-value ratio, a 10-year term and a 30-year amortization schedule. Benjamin Kadish of Maverick arranged the financing on behalf of the borrower, MG Development. The lender was undisclosed. The Home Depot is currently in year 11 of a 20-year lease that it signed when MG first acquired the property.

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