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Bender Cos. has paid $69.5 million, or $103,423/unit, for the 672-unit New Colonies apartment property in Steger, Ill., about 35 miles south of Chicago. The Chicago multifamily specialist bought the property from CiTYR Holdings, a New York real estate investor ...
The buyer financed its acquisition with a $44.26 million Fannie loan, provided through Arbor Commercial Mortgage and arranged by Eastern Union Funding. The loan pays a 4.03 percent coupon and matures in February 2025.
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