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801 South Canal Street, Chi...

Northwind Group Provides $60M Bridge Loan For Chicago Office Building On South Canal Street
FINANCEDOffice

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

Rael Gervis

Meridian Capital Group

Broker

$1.2B

vol

23 deals

Broker
Lionheart Strategic Management
Lionheart Strategic ManagementLender
Bank OZK
Bank OZKLender

Michael Silberberg

601W Companies

Landlord

$1B

vol

4 deals

Landlord

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

0.26%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93