Ready Capital Provides $44.4M Acquisition Loan for Office Building in Chicago

CHICAGO — Ready Capital has provided a $44.4 million loan for the acquisition and stabilization of a 473,000-square-foot Class B office building in Chicago’s East Loop. The nonrecourse, floating-rate loan will provide funds for the leasing costs associated with extending tenants long term and stabilizing the rent roll at market rents, according to Ready Capital. The loan features a 48-month term and a loan-to-cost ratio of 71 percent, with one extension option and flexible prepayment. The borrower was not disclosed.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.

Related News

Webinars on Demand


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties