Fulton Street Cos Secures $200M Construction Loan For Chicago Office Project At 919 West Fulton Street

The development site located at 919 West Fulton Street in Chicago has secured financing of over $200 million for its $300 million office project. The loan was provided by Bank OZK and Manulife, serving as key lenders for Fulton Street Cos. The development site spans across an area of 400,000 square feet, with plans for a 15,000-square-foot retail space that will house a Gibson's steakhouse. The property is situated in the thriving Fulton Market area.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $200,000,000
• Loan Type: Construction Loan
• Lender: Bank OZK & Manulife
• Landlord: Fulton Street Cos - Alex Najem & Ross Babel; Shanna Khan - SNK Capital

Fulton Street Cos., led by Alex Najem and Ross Babel, along with Shanna Khan from SNK Capital, secured the financing for their ambitious office project. The development has already garnered interest from private equity firm Harrison Street Real Estate Capital, which has pre-leased five floors in the building. The Fulton Market area, where the property is located, has been experiencing significant growth and the addition of a Gibson's steakhouse will further enhance its appeal.