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FINANCED
$610,000,000

Illinois

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Office1,200,000 SF
Financed 03/17/2025
the dealplayerscompscontact
Property Image
FINANCED

333 West Wolf Point Plaza

333 West Wolf Point Plaza

See Similar Deals
Office1,200,000 SF
Financed 03/17/2025
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:Office
Price Per Square Foot:$508
Total Square Footage:1,200,000 SF
Transaction Type:Loan

The asset involved in the transaction is an office property located at 333 West Wolf Point Plaza in Chicago. The lender for this deal is Wells Fargo, and the loan amount is $610,000,000.00.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $610,000,000.00
  • Address: 333 West Wolf Point Plaza
  • Market: Chicago
  • Lender: Wells Fargo
  • Landlord: Laura Pierce-Hines - Hines; Chris Kennedy

Key individuals involved in this transaction include Laura Pierce-Hines representing Hines and Chris Kennedy. They play significant roles as landlords in this property deal.

Players

Newmark
Newmark
BROKERAGE
Eastdil Secured
Eastdil Secured
BROKERAGE
Wells Fargo
Wells Fargo
LENDER
J.P. Morgan Chase
J.P. Morgan Chase
LENDER
Goldman Sachs
Goldman Sachs
LENDER
Goldman Sachs
Goldman Sachs
LENDER
Wells Fargo
Wells Fargo
LENDER
J.P. Morgan Chase
J.P. Morgan Chase
LENDER
Chris Kennedy
Chris Kennedy
3 deals$610M volume
LANDLORD
Hines
Hines
LANDLORD
Hines
Hines
LANDLORD

Details

FINANCED
IMAGE: Jeff Hines, Laura Pierce-Hines & Chris Kennedy DATE: 03/17/2025 ADDRESS: 333 West Wolf Point Plaza MARKET: Chicago ASSET TYPE: Office ~ SF: 1,200,000 LENDER: Wells Fargo (@ WellsFargo), JP Morgan (@JPMorgan) & Goldman Sachs (@GoldmanSachs) LANDLORD: Jeff Hines & Laura Pierce-Hines (@TXHines57) - Hines (@Hines); Chris Kennedy BROKER: Eastdil Secured (@EastdilSecured) LOAN AMOUNT: $610,000,000 NOTE: Hines, Chris Kennedy, and their partners are finalizing a $610M CMBS refinancing for Chicago’s 1.2M SF Salesforce Tower, replacing $549M in construction debt. The tower, 95% leased to tenants like Kirkland & Ellis and Salesforce, defies Chicago’s struggling office market with a long-term valuation of $888M.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$610,000,000.00

Monthly NOI$4,066,666.67
Monthly Debt Service$3,855,614.94
Change in Cash Flow$0.00
Refinance Proceeds$0.00