Ten Parkway North

Deerfield, IL

Office - Lease-Up

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Deerfield, IL

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Ten Parkway North

OFFICE - LEASE-UP

ACRES is pleased to announce that it has originated an approximately $12 million loan to fund the renovation and lease-up of Ten Parkway North, a three-story office property located at 10 Parkway North Boulevard in Deerfield, Illinois. The loan is provided to Core Acquisitions (the “Sponsor”), a Chicago-based commercial real estate investment firm specializing in the development and redevelopment of office and retail properties.

Ten Parkway North can accommodate a wide variety of tenants and is one of just four multi-tenant buildings in the Deerfield market that offers large, contiguous space between 36,000 and 90,000 square feet. The Sponsor plans to subdivide several spaces in the building to create smaller, speculative suites for tenants, a competitive advantage due to the rarity of small office space in the market.

An updated lobby
Tenant lounge
Conference center
Corridors
Bathrooms
Elevators
Patios

The Sponsor selected ACRES for the loan due to its comprehensive and adaptable financing package and surety of execution. The Sponsor has partnered with Principal Jason Simon of Colliers International to orchestrate the lease-up of the property.

$11.9 MILLION

Loan Amount

24 Months

Loan Term

Bridge Loan

Loan Product

“ACRES Capital provided us a complete financing solution for our repositioning business plan on our class A office building in Deerfield, Illinois. ACRES took the time to understand our projections and analysis, and therefore provided a structure that worked for our needs. They were efficient, professional and performed on the loan, even as major, macro-economic disruptions began to crest. We appreciate ACRES as a trusted source of capital and are looking forward to doing more business with them in the near future.”

- Adam Firsel, Managing Principal of Core Acquisitions

News Links

Press Release | ACRES Capital Originates ~$12M Loan to Revitalize 106,000-SF Office Property

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ACRES Capital, LLC (“ACRES”) is an SEC-registered investment adviser with an office in Uniondale, New York. ACRES and its representatives are in compliance with the current registration and notice filing requirements imposed upon SEC-registered investment advisers by those states in which ACRES maintains clients. SEC registration is not an endorsement of the firm by the Commission and does not mean that the adviser has attained a specific level of skill or ability.