Manulife Investment Management has secured a $120.1 million mezzanine loan for its clients to finance the construction of a new office building at 919 W. Fulton Street in Chicago’s highly sought-after Fulton Market district.
The project, known as 919 on Fulton, will be a premier Class A development spanning 373,000 square feet and featuring both office and retail space. Developed by Fulton Street Companies, this state-of-the-art property is expected to be completed in 2025 with an impressive total of 350,000 square feet dedicated to top-tier offices and an additional 23,000 square feet designated for high-end retail.
According to Marc Feliciano, Global Head of Real Estate at Manulife Investment Management: “The successful execution of the financing package for the Fulton Street project exemplifies our ability to quickly devise innovative solutions that capitalize on opportunities while supporting the creation of exceptional assets in prime locations.” This transaction showcases one key advantage offered by Manulife’s real estate division – their expertise in collaborating with partners to overcome challenges and achieve success even under difficult circumstances.
This news was originally published on Connect CRE website.
