Northwind Group Provides $60M Bridge Loan For Chicago Office Building On South Canal Street
801 South Canal Street, Chicago, Illinois 60607, United States
$60,000,000
$85/SF
Building Size
700,000 SF
Asset Type
Office
Closing
Feb 2, 2022
AI
801 South Canal Street, an office property located in Chicago, IL, recently secured a $60,000,000 bridge loan. The loan was provided by Northwind Group, represented by Ran Eliasaf and Gabriel Hamani. The landlord, The 601W Companies, was represented by Michael Silberberg, Victor Gerstein, Mark Karasick, and Harry Skydell. The transaction was facilitated by Rael Gervis and Eliezer Finkel of Meridian Capital Group.
Summary of transaction details:
- Property Type: Office
- Loan Amount: $60,000,000
- Address: 801 South Canal Street, Chicago, IL
- Lender: Northwind Group - Ran Eliasaf & Gabriel Hamani
- Landlord: The 601W Companies - Michael Silberberg, Victor Gerstein, Mark Karasick & Harry Skydell
- Brokers: Rael Gervis & Eliezer Finkel - Meridian Capital Group
Please contact [email protected] with opportunities.
Players
Chicago Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93