Jordan Menashe Of Menashe Properties Secures $45M Loan From Goldman Sachs For Chicago Office Tower

The asset involved in this transaction is an office tower located at 230 West Monroe Street in Chicago, consisting of 623,675 square feet. The loan amount secured by Menashe Properties from Goldman Sachs is $45,000,000, which reflects the purchase price of the property two years prior, indicating a turnaround in the post-pandemic market.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $45,000,000
• Address: 230 West Monroe Street
• Market: Chicago
• Landlord: Jordan Menashe - Menashe Properties
• Lender: Goldman Sachs
• Asset Size: 623,675 SF
• Occupancy Increase: From 60% to 85%

Jordan Menashe, representing Menashe Properties, played a significant role in the transaction with Goldman Sachs. This deal showcases the potential for value growth in the downtown office market, supported by new leases and spec suites that have contributed to the rise in occupancy rates of the building.