Manulife Investment Management has secured a $120.1 million mezzanine loan for the development of 919 on Fulton, a Class A office and retail project in Chicago’s highly sought-after Fulton Market district. The financing package was arranged by Manulife on behalf of its clients, showcasing their expertise in providing creative solutions to capitalize on opportunities.
The property, developed by Fulton Street Companies and set to be completed in 2025, will feature 350,000 square feet of premium office space and 23,000 square feet of high-end retail. According to Marc Feliciano, Global Head of Real Estate at Manulife Investment Management: “The transaction exemplifies our ability to swiftly develop innovative financing solutions that enable the construction of top-quality assets in prime locations.” This investment highlights one key aspect that sets apart Manulife’s real estate business – their ability to collaborate with partners and find solutions even in challenging environments.
This post originally appeared on Connect CRE.
