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Asia Capital Real Estate (ACRE) Provides $51.5 Million Loan for Luxury, Mixed-Use Community in Chicago’s West Loop Submarket

CHICAGO–()–Asia Capital Real Estate (ACRE), a global real estate private equity and debt firm, today announced it has closed on a $51.5 million loan to support the refinancing and redevelopment of The Duncan, a multi-building luxury community in Chicago’s West Loop/Fulton Market neighborhood.

Issued through ACRE’s debt fund “ACRE Credit”, the loan will aid in the refinancing of the 260-unit property owned by Chicago-based institutional developer, owner and operator CEDARst. The 2.5 year loan term ACRE provided includes two 1-year extension options and carries a Loan-to-Value ratio of 75.8 percent.

“Despite the many challenges the industry faced this past year due to COVID-19, The Duncan’s strong…

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