Fifield Cos. Secures $95M Refinancing Package For River North Apartments

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So do the numbers: over 12,000 new apartments are being added to downtown Chicago’s inventory through 2019. A tipping point may be near in this development cycle. Fifield Cos. CEO Steve Fifield compared the growing confluence of factors to the apartment boom of the 1970s and ’80s.

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HFF secured $30.6 million in financing for Brackenridge at Midtown, a multifamily garden-style community in Alamo City. HFF worked on behalf of the borrower, Pure Multi-Family REIT LP, to place.

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The latest developer to do this is Fifield Cos., which secured a $95M senior loan for NEXT, its 28-story River North apartment tower, according to Cook County records. The loan replaces a $70M.

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