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JLL Lines Up $100M Acquisition Loan on South Loop Apartment Tower
JLL Capital Markets closed $99.5 million in acquisition financing for The Elle, a 496-unit multifamily high-rise in Chicago’s South Loop. Although JLL didn’t disclose the borrower, the buyer was previously reported as locally based Waterton.
A JLL team of senior managing director Danny Kaufman, managing director Trent Niederberger, director Lucas Borges and associate Mike Halbach worked on behalf of the borrower to secure the seven-year, fixed-rate loan through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital.
Constructed in 2018 and spanning 34 stories, The Elle at 801 S. Financial Pl. was previously known as Alta Roosevelt. Waterton, which reportedly paid around $170 million for the property in downtown Chicago’s biggest single-asset apartment sale this year, announced in October that it would rebrand it as The Elle, in a nod to both Eleanor Roosevelt and Chicago’s elevated train system, the “L.”
- ◦Sale/Acquisition
- ◦Financing
