July 3, 2018
$780 million ten-year, fixed-rate senior mortgage for our clients’ refinancing of Sears Tower.
- Class A+, world-renowned, trophy office tower totaling more than 4.4 million square feet, located in Chicago’s West Loop.
- Financing was used to repay existing Carlton-arranged, floating-rate financing from 2004, and fund a very large TI/LC facility and sizable capital improvement reserve for the repositioning of the landmark property.
- Previously arranged $825 million senior mortgage for our clients’ acquisition of the asset in 2004.