The asset involved in this transaction is a 1,520,000 square foot office tower located at 110 North Wacker Drive in the Chicago market. The property is currently 97.8% leased and was recently valued at just over $1 billion.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $700,000,000
• Lender: J.P. Morgan Chase, Bank of America, Wells Fargo, Goldman Sachs, Bank of Montreal
• Landlord: Glenn August - Oak Hill Advisors
• Landlord: Tim Callahan - Callahan Capital Properties
• Landlord: Len O'Donnell - Affinius Capital
• Loan Terms: five-year, interest only
• Existing Debt Retired: $556,100,000
• Preferred Equity Retired: $129,800,000

A venture consisting of Oak Hill Advisors, Callahan Capital Partners, and Affinius Capital secured this financing deal. The transaction involved refinancing the existing debt on the property and highlighted the collaborative effort of the involved lenders to facilitate this process.