Developed by John Buck Co., the one-million-sf, 51-story building is anchored by Deloitte & Touche, which moves into 424,192 sf this summer. Lord Bissell & Brook LLP, RR Donnelley, Grippo & Elden LLC, Ventas Realty and Bloomberg also have signed leases to bring occupancy to nearly 80%.
"The five-year, floating-rate loan has an initial funding of $175 million and the remaining funds will be used for closeout of the base building construction contract, tenant improvements, leasing commissions and debt service shortfalls," explains GMACCM vice president Peter Smolenski. GMACCM provided John Buck Co. with a $217-million construction loan two years ago.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
