ORIX USA’s Real Estate Investment Strategies group announced the closing of a $21.25 million senior mortgage loan to support Macon Construction and Stocking Urban for the refinancing of Five Points Apartments. The recently completed Class A mixed-use property is located in Chicago’s Ravenswood neighborhood and features 52 residential units above approximately 5,600 square feet of ground-floor retail space. The property also offers a fitness center and rooftop deck with skyline views and is located near the Addison Brown Line station.
“The combination of an experienced sponsorship team, a high-quality asset and a strong Chicago location made Five Points Apartments a compelling financing opportunity for ORIX USA,” said Stephen Klufas, Managing Director, ORIX USA.