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Chicago, IL, September 06, 2017 --(PR.com)-- Pangea Mortgage Capital (PMC) is pleased to
announce the closing of a $1.0 million loan to finance the construction of two condominium units located
in Chicago's Lakeview neighborhood.
On August 8, 2017, PMC closed a construction loan in less than 20 business days from term sheet
signing. The loan is fixed rate and interest only. The loan is collateralized by the condominiums, which
are near completion.
The property is located in Lakeview, just one block from Belmont Harbor.
The arrangement of the loan included complexities of loan payoffs and maturities, interest reserves,
construction budgets and a compressed timeline.
Our clients needed certainty of close and a partner to help bring the project to completion, said Scott
Larson, Vice President and Group Head at PMC. We believe the condominiums excellent build quality,
combined with great location will be highly attractive to potential buyers.
To discuss any potential financing opportunities, please call (312) 489-8108 or email
inquiries@pangeamortgage.com.
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Contact Information:
Pangea Properties
Mariah Cowan
312-924-5745 ext. 248
Contact via Email
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