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Mission Capital Arranges Thorofare Loan on Mag Mile Parcel

Mission Capital Advisors’ debt and equity finance group has arranged $13 million of non-recourse, floating-rate financing on behalf of an affiliate of the Sterling Organization. The loan recapitalizes 110 E. Pearson St., a 9,000-square-foot vacant retail property in the heart of the Magnificent Mile.

Jonathan More, Alex Draganiuk, Lexington Henn and Justin Hunt of Mission Capital secured the loan from Thorofare Capital. The loan will be used to capitalize the property, lease up the available space and implement significant capital improvements.

Thorofare’s willingness to provide financing stemmed from the firm’s recognition of the sponsor’s strong track record in value-add retail and the property’s desirable location, said Felix Gutnikov, the firm’s head of origination.

“We were able to offer Sterling Organization a structured financing solution for a well-located retail asset within one of the most recognized shopping districts in the country,” he said. Mission and Thorofare have completed several deals together.


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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).

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