$470M Refi for Chicago’s 150 N. Riverside
Riverside Investment & Development refinanced the 54-story 150 N. Riverside office development in Chicago for $470 million. The 1.2-million-square-foot West Loop skyscraper opened in Spring 2017.
The new loan from Bank of America replaced $357 million of debt that financed construction, which was due to mature next year. China’s Wanxiang America Real Estate Group, and Metlife Real Estate Investments are partners in the project, while Chicago-based Heitman was initially a preferred equity partner.
Tenants at the 87%-occupied 150 N. Riverside include William Blair, an investment banking and asset management firm, which took 365,350 square feet as its global HQ and is the largest tenant. Others include investment adviser Victory Park Capital and Navigant Consulting.
CBRE’s Drew Nieman is handling leasing.
For comments, questions or concerns, please contact Dennis Kaiser