Chicago West Town Regional Bank Refinance: How Essex Capital Markets Secured Lower Pricing and a Streamlined Non-Recourse Execution

Problem: The sponsor’s existing loan was nearing maturity, and initial direct outreach to lenders resulted in elevated pricing and inconsistent feedback on structure. Despite strong property performance, most lenders quoted higher spreads and required heavy diligence, making the refinance uneconomical. The sponsor was fee-conscious and preferred a non-recourse option but without the friction or costs typical of agency executions.

Solution: Once engaged, Essex Capital Markets leveraged long-standing relationships to reopen the conversation under our platform. By reframing the credit profile, emphasizing stabilized performance, and controlling the underwriting narrative, Essex reduced the quoted spread by 25 basis points with the same lender and guided the sponsor to said lending platform with inherently low third-party and legal costs.

Outcome: The loan closed quickly, on improved terms, and with a non-recourse structure that exceeded the sponsor’s initial expectations. What began as a self-sourced transaction turned into a materially better outcome, both in rate and process, demonstrating the tangible advantage of having Essex Capital Markets in the negotiation.