NEMA Chicago Apartment Tower Refinancing
Sector: Commercial • Location: Chicago, Illinois, United States
Source: The Real Deal
Crescent Heights secured a $332 million debt package to refinance NEMA Chicago, the city’s tallest all-rental tower. The financing includes a $275 million, five-year, fixed-rate senior loan from New York Life Insurance Company and a $57 million mezzanine loan from PGIM Real Estate. The refinancing replaces a $340 million floating-rate loan from KKR Real Estate Finance Trust in 2019. The 76-story t
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Participants
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Status
Original status | completed |
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Description
Description | Crescent Heights secured a $332 million debt package to refinance NEMA Chicago, the city’s tallest all-rental tower. The financing includes a $275 million, five-year, fixed-rate senior loan from New York Life Insurance Company and a $57 million mezzanine loan from PGIM Real Estate. The refinancing replaces a $340 million floating-rate loan from KKR Real Estate Finance Trust in 2019. The 76-story tower at 1210 South Indiana Avenue has 800 units and 70,000 square feet of amenity space, designed by Rafael Viñoly’s firm. |
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Original Currency | USD |
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Source
Source reliability | High |
Data quality score | 100% |
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URL | obfuscated_data,obfuscateddata.com |
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