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Fifield, Strand Secure Senior Financing for 310-Unit Next Apts.

HFF Arranges 7-Year Loan for Class A Apt. Bldg.
February 28, 2018
Fifield Cos. and Strand Corp. secured senior financing for the venture's Next apartment complex located at 347 W. Chestnut St. in Chicago's River North area.

Completed in 2016, the 28-story apartment tower has 310 units with 5,700 square feet of ground floor retail space and a controlled access garage. Common area amenities include an outdoor pool, indoor/outdoor fitness center, outdoor terrace, and business center complete with conference room and screen.

The seven-year, fixed-rate loan, obtained through a correspondent life insurance company, will go towards refinancing the original construction.

Danny Kaufman, Trent Niederberger and Jimmy Conley of HFF's debt placement team arranged the loan on behalf of the venture.
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