Cohen Financial Secures Loan for Class a Retail Property in Suburban Chicago

Cohen Financial, a division of SunTrust Bank and a national real estate capital services firm, announced today that Dan Rosenberg, Managing Director, and Matt Terpstra, Vice President of Cohen Financial in the Chicago office, secured financing for Lincolnshire Commons shopping center located in Lincolnshire, Illinois, a northern suburb of Chicago. The property is a 133,000 square-foot, Class A retail complex anchored by a NorthShore University Health System clinic and The Cheesecake Factory, as well as other high-end restaurants.

Cohen Financial secured a 10-year, fixed rate loan with a 30-year amortization schedule with Wells Fargo. The borrower is Next Realty, a longtime Cohen Financial client.

“Lincolnshire Commons is a well-located, best-of-class shopping center with many high-quality restaurants and Internet-proof retail tenants,” said Rosenberg. “The property recently went through a creative recapitalization, bringing in the NorthShore clinic to tenant the entire space formerly leased to Barnes & Noble.”

“Securing the proper capital stack is one of the critical components in the ownership of commercial real estate,” said Marc Blum, President and COO, Next Realty. “The work of Cohen Financial on our behalf has helped us achieve our financial goals in many of our projects including Lincolnshire Commons.”

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Source: Atlanta CityBizList