Chicago & Midwest + North Side + Finance | January 27, 2023

JLL Capital Markets arranged a $40-million refinancing on behalf of The Jaffe Companies for Edens Collection, a retail center located in Chicago

Jaffe Companies Refis Edens Collection Shopping Center for $40M

JLL Capital Markets arranged a $40-million refinancing for Edens Collection, a 142,740-square-foot, Target-anchored retail center located in Chicago’s Jefferson Park neighborhood. JLL worked on behalf of the borrower, The Jaffe Companies, to secure the five-year, floating-rate loan through Pacific Life Insurance Company.

The JLL Capital Markets team representing ownership was led by senior managing director Keith Largay and managing director Christopher Knight.

“Despite a cautious capital markets environment, lenders recognized the value created by the development team at Edens Collection, which stands out as one of the essential, premier, urban infill, retail centers on the north side of Chicago,” said Largay.

Built in 2020, the 94% leased Edens Collection features a roster of credit tenants, including Target, Ross and Starbucks. Additional tenants at the property include LA Fitness, Five Below, Chipotle, Smashburger, May Nail Spa and Eyecare Services Partners.

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JLL's Largay

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 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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