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Naperville, Ill. — Cushman & Wakefield has arranged a $12 million loan for the refinancing of River Square in the Chicago suburb of Naperville, Illinois.
The 58,677-square-foot retail property, located at 22 E. Chicago Ave., is 96 percent leased. Jeffrey Cohen of Cushman & Wakefield arranged the fixed-rate loan on behalf of Clarion Partners and a large overseas pension fund. Voya Investment Management provided the loan. NARE, a local real estate investor, sold the property to Clarion in October.