Maverick Closes on Mortgage Loan for South Side Industrial
Maverick Commercial Mortgage, Inc. closed on a $3,550,000 first mortgage loan for 8801 and 8835 S Greenwood Ave in Chicago. This is an acquisition loan on two adjacent industrial buildings on Chicago’s South Side leased to SCR Medical Transportation, which was acquired by Beacon Mobility.
The loan has a 60-month term with an interest rate fixed at 4.15%. The lender was a Midwest financial institution. The borrower was a Maryland-based national real estate investment firm specializing in single tenant net leased industrial properties.
The transaction encompasses 8801 S. Greenwood at 47,000 square feet and 8835 S. Greenwood at 16,125 square feet. The properties are unique as there is substantial land that allows for parking of 300 vehicles that are used by the tenant for transporting clients of PACE. The Greenwood campus is the Chicago headquarters of Beacon Mobility and is in one of Chicago’s top industrial markets.
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).
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!