August 19, 2016
Holliday Fenoglio Fowler, L.P. (HFF) secured a $78-million construction loan for the development of Fulton West Phase II, a nine-story, 290,699-square-foot, creative office building in Chicago’s West Loop. The developer is a partnership between Chicago-based Sterling Bay, and institutional investors advised by J.P. Morgan Asset Management.
Slated for completion next year, Fulton West Phase II will feature 261,129 square feet of creative office space, 18,429 square feet of ground floor retail and a 610-stall parking facility. Lease commitments for nearly half of the building have been received from Glassdoor, Skender Construction and Sterling Bay.
HFF’s debt placement team, including Michael Kavanau, Tim Joyce and Christopher Knight, represented the borrower in placing a construction loan with with Bank of America.
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