Pangea 8 Apartment Portfolio

Location: Chicago MSA, IL
Type: Multifamily
Price: $ 9,250,000

SMC provided a $9,250,000 loan to finance an apartment portfolio consisting of 18 non-contiguous, apartment buildings containing a total of 230 units (226 residential and 4 commercial) in the Chicago, IL MSA. The portfolio is located in densely populated residential communities on the West Side (three of the Properties) and the South Side (twelve of the Properties) of Chicago, and Calumet City (two Property), which is located 22 miles south of the Chicago CBD, and Calumet Park (one Property), which is also located 17 miles south of the Chicago CBD.