A venture that includes Northbrook real estate firm Next Realty LLC borrowed $31.5 million from an affiliate of Chicago-based Ares Commercial Real Estate Corp. to finance its acquisition of Lincolnshire Commons, a nearly 130,000-square-foot shopping center in Lincolnshire, according to Lake County records.

Next hired Steve Baer, principal at Highland Park-based Metro Commercial Real Estate Inc., to lease the shopping center, which is 90 percent full, said Next President Marc Blum.

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