The financing was announced by JLL Capital Markets, which worked on the deal on behalf of Summit to place eight uncrossed, fixed-rate loans with terms of 10, 12 and 15 years with a correspondent life insurance company.

The deal for the more than 650,000-square-foot complex on 70 acres is expected to close in the second half of this year.

The report notes that city's average daily rate rose 5.8% year-over-year to $202.41 and revenue rose 4.3% year-over-year to $707 million.

Evergreen Real Estate Group commenced construction on the $81-million project at 4515 N. Winchester Ave. in Chicago's Ravenswood neighborhood last week.

BioReference Laboratories is the firm's largest tenant leasing more than 227,037 square feet in Elmwood Park spread across four buildings in Alfred Sanzari Enterprises' portfolio.

KBS Real Estate Investment Trust II sold the complex to an unidentified private buyer. CBRE, which represented KBS in the transaction, identified the new owner as a private New York City-based investor backed by offshore capital.

The law firm has signed a lease for space on the 12th floor of the 35-story tower building and expects to take occupancy in April.

The initiative is part of a $100-million strategy announced last Friday by Fifth Third Bank to invest in Qualified Opportunity Zones across the nation