Cohen Financial, a division of SunTrust Bank and a national real estate capital services firm, announced today that Dan Rosenberg, Managing Director, and Matt Terpstra, Vice President of Cohen Financial in the Chicago office, secured financing for Lincolnshire Commons shopping center located in Lincolnshire, Illinois, a northern suburb of Chicago. The property is a 133,000 square-foot, Class A retail complex anchored by a NorthShore University Health System clinic and The Cheesecake Factory, as well as other high-end restaurants.
Cohen Financial secured a 10-year, fixed rate loan with a 30-year amortization schedule with Wells Fargo. The borrower is Next Realty, a longtime Cohen Financial client.
“Lincolnshire Commons is a well-located, best-of-class shopping center with many high-quality restaurants and Internet-proof retail tenants,” said Rosenberg. “The property recently went through a creative recapitalization, bringing in the NorthShore clinic to tenant the entire space formerly leased to Barnes & Noble.”
“Securing the proper capital stack is one of the critical components in the ownership of commercial real estate,” said Marc Blum, President and COO, Next Realty. “The work of Cohen Financial on our behalf has helped us achieve our financial goals in many of our projects including Lincolnshire Commons.”
About Cohen Financial
As part of its acquisition by SunTrust Bank, a subsidiary of SunTrust Banks, Inc. (NYSE: STI), Cohen Financial has joined the SunTrust Commercial Real Estate (CRE) line of business, which is part of SunTrust’s Wholesale Banking Segment. Cohen Financial provides access to capital markets debt placements and consulting services for financial institutions, commercial real estate developers and investors. Also well recognized as one of the nation's leading loan servicers and special servicers, Cohen Financial provides third-party rated, primary and special loan servicing, loan administration and advisory services. Cohen Financial serves clients throughout the U.S. from offices in six major markets.
About SunTrust Banks, Inc.
SunTrust Banks, Inc. is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses, and communities it serves. Headquartered in Atlanta, SunTrust operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states, along with 24-hour digital access. Certain business lines serve consumer, commercial, corporate, and institutional clients nationally. As of June 30, 2017, SunTrust had total assets of $207 billion and total deposits of $160 billion. The Company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services. SunTrust leads onUp, a national movement inspiring Americans to build financial confidence. Join the movement at onUp.com.
