Sterling Bay Secures $79 Million Refinance Loan For Office Property At 345 North Morgan Street
345 North Morgan Street
$79,000,000
Building Size
—
Asset Type
Office
Closing
Oct 15, 2026
About this deal
AI
The asset involved in this transaction is an office property located at 345 North Morgan Street in the Chicago market. The transaction involves a loan amount of $79,000,000 specifically for refinancing purposes.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $79,000,000
- Lender: Jason Oliver - DekaBank
- Borrower: Sterling Bay
- Broker Representatives: Lucas Borges, Matt Maksymec, Emma Berner & Ryan Planek - JLL
- Date of Transaction: 10/02/2026
The deal involves key individuals and firms in the financing of the property. The lender, Jason Oliver, represents DekaBank while Sterling Bay acts as the borrower, facilitating the refinancing. The broker representatives from JLL, including Lucas Borges, Matt Maksymec, Emma Berner, and Ryan Planek, play a significant role in the transaction process.
On the Map
$79,000,000
Office
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Players
Chicago Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93