Crain's Chicago Business Mesirow Financial has paid $87.7 million, or $366,945/unit, for Reserve at Glenview, a 239-unit apartment property in Glenview, Ill., a suburb of Chicago. The Chicago investment firm purchased the property from Broadshore Capital Partners, formerly Lowe Enterprises ...
The Chicago firm financed its purchase with a $64.9 million mortgage from TPG Real Estate Finance Trust.
84 percent occupied.
88 percent occupied last year. The CMBS trust took the space from its developer, a venture led by OliverMcMillan, last year upon foreclosing on a $55.6 million loan. Its special servicer, Situs Co.,initiated the foreclosure in 2012.
General Electric Capital Corp. provided $8.4 million for the deal.
97 percent occupied.
95 percent leased. Newport Capital financed the transaction with a $13.4 million loan from Fifth Third Bank.