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$55M Loan Secured for 404-Bed Infinite Chicago
CA Student Living, a subsidiary of California Ventures, obtained a $55 million loan to refinance the 404-bed Infinite Chicago. Square Mile Capital Management LLC provided the financing, with Stephen Skok of HFF securing the loan.
Infinite Chicago, at 28 E. Jackson Blvd. in downtown Chicago, is a repurposed project consisting of two century-old towers, originally known as the Gibbons-Steger office buildings. CA Student Living acquired the asset in 2012, and completed the buildings’ conversion into student housing by 2014. Kendall College and the School of the Art institute of Chicago control master leases for many of the beds at Infinite Chicago.
The housing also serves students attending DePaul University, Roosevelt University and Columbia College. Amenities include a landscaped rooftop with gas grills, fitness and business center, group study rooms and an entertainment lounge.
For comments, questions or concerns, please contact Amy Sorter
- ◦Financing
