CHICAGO — Newmark Grubb Knight Frank’s Real Estate Finance Group has arranged $11.7 million in acquisition financing for Belden Centre, a 52,806-square-foot retail center in Chicago. Little GEMS International Preschool occupies 32,250 square feet of the center, which is fully leased. The borrower, a Chicago-based institutional investor, acquired the center in June for $18 million from a joint venture between Chicago-based investor James Purinton and Arlington Heights-based ACG Equities Inc. The five-year, nonrecourse loan includes one year of interest-only payments followed by a 30-year amortization schedule. Ben Greazel, senior managing director at Newmark Grubb Knight, arranged the financing between the borrower and the lender, a Chicago-based bank.
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