121 W. Wacker
Chicago, IL
September 2016 - October 2018
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Property Type
Office
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Deal Type
Mezzanine
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Deal Size
$14 million
- Mezzanine financing for the refinance of a 408,269 sq. ft. office building in the Central Loop of downtown Chicago at the corner of Wacker Drive and LaSalle Street
- $14.0 million mezzanine investment commitment at a floating interest rate of 30-day LIBOR plus 9.75%; approximately $13.5 million was funded as of the payoff date ($195 psf / 68% LTV)
- Borrower paid off loan in full through sale of the asset; the property sold for $117.5 million ($288 psf)
