CBRE Refinances $7.2 Million for Kohl’s in Illinois

by Scott Reid

Round Lake Beach, Ill. — CBRE has secured the financial loan of a single-tenant retail building occupied by Kohl’s located in Round Lake Beach for $7.2 million.

CBRE’s Capital Markets’ Debt and Structured Finance team, including Bruce Francis, Dana Summers, Bob Ybarra, and Shaun Moothart, worked on behalf of Texas-based Regional Apartments Grapevine LLC.

The 87,000-square-foot property had 10 years remaining on its absolute triple net lease. CBRE sourced a 10-year interest only loan at a 58 percent loan to value and 4.31 percent fixed loan. The lender was Barclays Capital and the sponsor was a high net-worth private investor out of California.

Other retailers at the property include Home Depot, Hobby Lobby, Walgreens, Office Max, Big K Mart, Regal Cinemas, Famous Footwear, Wendy’s, Panera Bread, Chili’s, Applebee’s, McDonald’s, Joann’s Fabrics, Ace Hardware, KFC, Taco Bell, Firestone, Chipotle, Buffalo Wild Wings and AutoZone.

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