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Chicago & Midwest  + Chicago + Downtown  + Finance  | 
Downtown Chicago Office Subleases Reach Record Level

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. 

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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 16-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 7-10 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 GlobeSt.com 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).

  • ◦Financing
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