Cohen Financial Lines Up Refi on Gold Coast Apartments
SunTrust division Cohen Financial has arranged a refinancing for 70 E. Walton, a boutique luxury rental property in the Gold Coast neighborhood. Michael Hart, managing director in Cohen Financial’s Chicago office, closed a $19-million loan with a local bank.
The building is approximately 50,000 square feet, featuring 25 rental apartments and approximately 15,000 square-feet of retail space on its first through third floors. Hart arranged a fixed-rate, seven-year term loan.
The sponsor on 70 E. Walton is a private investor. The loan closed this past Monday.
“The 70 E. Walton building is a highly-desirable property, providing an amenity-rich lifestyle in the city close to North Michigan Avenue and Oak Street destinations,” said Hart.
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 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).
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