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Chicago & Midwest  + Midwest  + Retail  | 

Mag Mile Arranges Loan on Indiana Multi-Tenant Retail

Mag Mile Capital VP Prabhat Jayara completed a $5,700,000, five-year, fixed-rate loan for an 18,440-square-foot retail center in Munster, IN on behalf of Translucence Management. The loan was closed with a 75% loan-to-value and at a fixed interest rate of 4.25% for a 25-year amortization.

The multi-tenant retail property is leased to a mix of national and local tenants. The buyers, who are local entrepreneurs looking to diversify their portfolio, came to Mag Mile for assistance in their first commercial real estate acquisition.

“Retail is viewed nationally as a risky asset class owing to current market conditions, with many bearish lenders painting a broad brush across properties and regions,” said Jayara. “That being the case, we went to a local bank lender to close this deal – one that was both familiar with the strength of the local market as well as the entrepreneurial success of the borrower.”

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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 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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