Prudential Finances Chicago, Seattle Towers

CHICAGO, IL- Prudential Mortgage Capital Company just announced that the firm has provided $425 million in financing for an office tower in Chicago and one in Seattle. The 1.15 million SF Chicago building, at 155 North Wacker, received a $300 million, 10-year, fixed-rate loan. It was developed by the John Buck Company in 2009 and stands in the West Loop district, the most robust office market in the city’s CBD.

Colliers International stated in its year-end research report that fourth-quarter leasing activity in the surrounding West Loop approached pre-recession levels. The office vacancy rate had declined to 13.5%, down from 14.4% at the end of 2011.