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Chicago & Midwest  + Midwest  + Office  | 

Lincoln Property Company Recapitalizes, Refinances MO Office Building

Lincoln Property Company has recapitalized and refinanced The Sevens, a 197,311-square-foot Class A office located in Clayton, Missouri. Lincoln recapitalized the building with investment from a new joint venture partner, IMC Management, and also refinanced the property. Lincoln originally bought the building located at 7777 Bonhomme Avenue in 2015 through a joint venture with Stockbridge. 

Riot Games, a video game developer, recently renewed one of its two full floors in the building. Lincoln backfilled a former Riot Games floor with NUSO, a communications-focused software provider. The building is approximately 73% leased. Constructed in 1971 and extensively renovated in 2017, The Sevens features best-in-class amenities. Lincoln will continue to manage the building, and Cushman & Wakefield will handle leasing.

“Our plan is to build and deliver a series of speculative market-ready suites along with the continuation of common area improvements to capture pent-up demand in one of the Midwest’s hottest submarkets,” said Peter Kelly, Executive Vice President, Lincoln Property Company.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.