Aug
18
HFF Secures Financing for Fulton West Phase II
ByThe company placed the $78 construction loan with Bank of America.
Fulton West, Chicago
Chicago—HFF has secured $78 million in construction financing for Fulton West Phase II in the city’s West Loop neighborhood. The company worked on behalf of the developer—a joint venture between Sterling Bayand institutional investors advised by J.P. Morgan Asset Management—to place the construction loan with Bank of America.
The nine-story, 290,699-square-foot Fulton West Phase II is scheduled for completion in 2017. The project will feature 261,129 square feet of creative office space, 18,429 square feet of ground-floor retail and a 610-stall parking facility. Amenities at the site will include a 24,000-square-foot landscaped courtyard, a 5,750-square-foot rooftop deck with views of downtown Chicago and a bike room, among others. The property will also provide easy access to a variety of transportation options, including the I-90, I-94 and I-290, the nearby Ashland and Lake and Morgan and Lake “L” stations. Shuttle service to the two downtown commuter rail stations will be provided from Fulton West…
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