Landmark West Loop
Chicago, IL
May 2016
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Property Type
Multifamily
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Deal Type
Preferred Equity
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Deal Size
$22.0 million
- Construction financing for the development of a 300-unit multifamily complex in Downtown Chicago; 1035 W. Van Buren is located in the city's West Loop submarket between Morgan Street and Aberdeen Street, just north of I-290
- Construction commenced in early 2016 and is scheduled to last 24 months, with lease-up targeted for December 2017
- Participation agreement between PacLife and Pearlmark
- $22.0 million preferred equity investment offering attractive stabilized yields to the preferred equity position
