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Tishman Speyer Completes $340M Refinancing of West Loop Office Complex
Tishman Speyer has refinanced The Franklin, a two-tower office complex in Chicago’s West Loop, with a $340 million CMBS loan.
The loan was led by JPMorgan with Bank of America and Deutsche Bank serving as co-lenders. Proceeds from the five-year floating rate loan, structured with a two-year initial term and three 12-month extension options, will be used to pay off The Franklin’s existing loan and fund ongoing leasing efforts.
Tishman Speyer has secured 460,000 square feet of new leases and extensions at The Franklin since June 2025, bringing the property to 84 percent leased. The Franklin encompasses a 60-story tower at 227 West Monroe Street and a 34-story tower at 222 West Adams Street. The property’s mix of retailers includes Amazon Go, Citibank and Soprafinna Market.
“This successful refinancing reflects the strength of The Franklin and the continued demand for premier, amenity-rich workplaces in prime locations,” said Tishman Speyer’s Managing Director Nooshin Felsenthal.
