NORTHMARQ ARRANGES $17.1 MILLION MEDICAL OFFICE LOAN

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AURORA, ILL. — Michael Sieman of NorthMarq’s Chicago office has arranged $17.1 million in construction-to-permanent-first-mortgage financing for an 81,000-square-foot medical office building located in Aurora. The non-recourse financing was secured at 80 percent loan-to-value, with a 10-year term and 30-year amortization schedule. The 70 percent pre-leased building is situated on an existing medical campus, and Rush-Copley Hospital has signed on to occupy 40 percent of the new facility.

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