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Kawa Closes Preferred Equity Investment in River North Rentals
Kawa Capital Solutions, an independent asset management firm specializing in real estate capital solutions, has closed on a preferred equity investment of $15 million for a 280,000-square-foot Class-A multifamily rental property in downtown Chicago’s River North neighborhood.
Located at 808 N. Cleveland Ave., the 200-unit rental property offers 20,000 square feet of office space, 7,500 square feet of retail space and a 101-space parking garage. Experienced Chicago developers Bayview USA and DAC Developments will co-develop and manage the property.
The $15-million investment provided by Kawa is slated to fund the budgeted construction cost of the development project totaling $104.6 million. A guaranteed maximum price contract and payment and performance bonds are insured in the protection of the development’s construction costs and project timeframe.
- ◦Financing


