Manulife Provides Mezzanine Financing for Chicago Mixed-Use

Manulife Investment Management has provided a $120.1 million mezzanine loan on behalf of its clients for a construction financing package to develop a new office building at 919 W. Fulton Street.

The property, dubbed 919 on Fulton, will be a Class A, 373,000-square-foot office and retail project located in the Fulton Market district of Chicago. Fulton Street Companies is the developer, and upon completion in 2025, 919 on Fulton will feature 350,000 square feet of trophy office and 23,000 square feet of high-street retail.

The Fulton Street transaction is an example where we swiftly developed a creative financing solution to capitalize on the opportunity and facilitate the construction of a high-quality asset in an irreplaceable location,” said Marc Feliciano, Global Head of Real Estate for Manulife. “This investment represents a key differentiator of the real estate business at Manulife Investment Management – the ability to work with partners to find solutions in challenging environments.”

Manulife’s Victor Calanog is the keynote speaker at Connect Investment & Finance 2023 on Oct. 24 at the Hyatt Regency O’Hare in Rosemont, IL. For up-to-the-minute insights on the state of the market and what’s next in the current cycle, be sure to attend. Click here to register.