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JLL Arranges Sale, Financing of The Parker in Fulton Market
JLL arranged the sale and acquisition financing for The Parker, a 227-unit luxury apartment building located in Chicago’s dynamic Fulton Market submarket.
JLL represented the seller, institutional investors advised by J.P. Morgan Asset Management and Atlantic Residential, in the sale to JDL Development. Working on behalf of the new owner, JLL also secured the fixed-rate, five-year acquisition loan with Northwestern Mutual Life.
The JLL team was led by Managing Directors Kevin Girard and Mark Stern, Director Zach Kaufman, Associate Jennifer Hull and Analyst Colleen Watson. Meanwhile, Senior Managing Directors Danny Kaufman and Matthew Schoenfeldt, Directors Medina Spiodic and Mary Dooley, Associate Rebecca Brielmaier and Analyst Youngsoo Yang secured the acquisition financing.
Developed by Atlantic Residential, Shapack Partners, and Focus Development in 2016, the 29-story building is located at 730 W Couch Place in the eastern section of Fulton Market.
“The Parker’s strong performance and growth potential in this dynamic setting make it an exceptional investment, reflecting continued confidence in high-quality multifamily assets in strategic urban locations,” said Girard.
