JLL has arranged a $141.817 million refinancing for Wolf Point West, a luxury multifamily property in Chicago’s River North neighborhood.
JLL represented the borrower, Hines, in partnership with AFL-CIO Building Investment Trust (advised by DWS Group), Magellan Development Group and the Joseph P. Kennedy Trust, to secure a three-year, floating-rate loan from New York Life Insurance Company.
JLL Capital Market’s Debt Advisory team was led by Senior Managing Director Danny Kaufman, Director Medina Spiodic, Vice President Rebecca Brielmaier and Analyst Youngsoo Yang. “The property’s stellar performance, with 97% occupancy and strong rent growth, reflects its position as a premier luxury lifestyle destination in one of the nation’s most dynamic markets,” said Kaufman.
Wolf Point West, located at 343 W Wolf Point Plaza, sits on the Wolf Point peninsula at the confluence of the three branches of the Chicago River. Delivered in 2016, the 48-story residential tower offers 509 luxury rental units across 379,264 square feet. Hines developed the property and currently serves as property manager.
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The post JLL Arranges $142M for Luxury River North MF Property appeared first on Connect CRE.
