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$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.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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