Tuesday, July 20, 2010

CHICAGO – Circle Realty Advisors and Aries Capital are pleased to announce that the two firms recently joined forces to secure and close a $31.1 million CMBS loan on a six-property, 1.4 million square foot industrial portfolio located throughout Wisconsin and Illinois.

Circle Realty Advisors acted as the investment advisor to the sponsor, while Aries Capital served as the mortgage banker.  The 73.2% loan-to-value, non-recourse loan was used to retire existing debt and fund upcoming tenant improvement obligations. Additionally, the loan provided cash out proceeds to the sponsor.  The loan was recently securitized and sold as part of a $700 million CMBS pool that came to market on June 18, 2010.

About Circle Realty Advisors
Circle Realty Advisors, www.circleadvisors.com, is a full service investment advisory firm specializing in workouts, receiverships, asset/property and construction management as well as acquisition advisory and due diligence services on behalf of its clients.