Midwest Regional Office
The Belden Stratford
“We are pleased to provide financing secured by the Belden Stratford, an iconic Chicago property with an excellent Lincoln Park location that is well suited for the sponsor’s plans for further upgrades to the property. This is our second transaction with the sponsor, Joseph Mansueto. The transaction is another example of our ability to provide attractive value-add financing tailored to sponsorship’s objectives.”
—John Howard, Senior Director
- The 30-year term is in keeping with New York Life’s flexibility and appetite for duration across the spectrum
- The property is a historic landmarked 297-unit apartment building with an exceptional Lincoln Park location with protected views of Lake Michigan
- The property offers the stability of in place income with upside achievable through the continuation of property renovations and upgrades
Source: REI Midwest Regional Office, January 2019.