REBusinessOnline

NorthMarq Arranges $93M Refinancing of Multifamily Property in Downtown Chicago

Columbus Plaza consists of 533 units.

CHICAGO — NorthMarq Capital has arranged a $93 million Fannie Mae loan for the refinancing of Columbus Plaza in downtown Chicago. The 533-unit multifamily property will undergo extensive work in the lobby and outdoor amenity spaces, including a complete renovation and expansion of the building’s deck and grilling stations. Additionally, energy-saving appliances will be added to reduce water consumption and improve energy efficiencies. Sue Blumberg of NorthMarq arranged the seven-year loan. An entity controlled by the Habitat Co. owns the property.

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