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Chicago & Midwest  + Greater Chicagoland  + Retail  | 

Aries Capital Provides Refi on Comfort Inn

Aries Capital has arranged a $7.05-million bridge loan to refinance the Comfort Inn at 3010 Finley Rd. in Downers Grove, IL. CEO Neil Freeman originated the transaction on behalf of long-time client SB Yen Management Group, which has plans to open San Francisco’s renowned Kingdom of Dumpling on the property.

Brandon Perdeck, senior associate with Aries, managed the underwriting and closing. The two-year, fixed-rate bridge loan features a 70% loan-to-value ratio and a 30-year amortization. The loan will enable the borrower to build-out the 121-key hotel’s adjacent 21,000 square-foot banquet/retail space for a new restaurant.

In a separate transaction, Aries completed a $9.2-million, fixed-rate loan on behalf of a Palm Beach, FL-based borrower for the acquisition of two shopping centers anchored by a Jewel-Osco grocery store in Oak Lawn, IL. Freeman originated the transaction and Perdeck served as the underwriter and closer.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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