JLL Arranges $127M Loan for Refinancing of Apartment Tower in Downtown Chicago

by Kristin Harlow

CHICAGO — JLL Capital Markets has arranged a $127 million loan for the refinancing of 465 N. Park Drive, a 444-unit apartment tower in Chicago’s Streeterville neighborhood. Built in 2018, the 48-story property features studio, one-, two- and three-bedroom units. The 40,000-square-foot amenity package includes a rooftop pool, hot tub, sauna, lounge, fitness center, conference center, green space, clubroom, rooftop sky deck and outdoor dining area. Danny Kaufman, Mary Dooley, Medina Spiodic, Tara Hagerty and Rebecca Brielmaier of JLL arranged the five-year loan on behalf of the borrower, a joint venture between MetLife Investment Management and Allstate Investments. The Northwestern Mutual Life Insurance Co. provided the loan.

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