Mesa West Capital Originates $145M Loan for New Downtown Chicago Luxury Apartment Building

by Kristin Harlow

CHICAGO — Mesa West Capital has provided $145 million in structured debt for the recapitalization and stabilization of a 469-unit luxury apartment building in Chicago’s South Loop. 1000 South Clark, a 29-story building, is a joint venture of JDL Development and New York-based iStar Inc. The building features a mix of studio, one-, two- and three-bedroom and townhome units and is currently in the final stages of lease-up. The five-year, non-recourse financing included $30 million in mezzanine debt that was sold to an institutional investor at closing.

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