Prudential Mortgage Provides $425M in Loans for Office Towers in Chicago and Seattle

Prudential Mortgage Provides $425M in Loans for Office Towers in Chicago and Seattle

Prudential Mortgage Capital Co. provided $425 million in financing for two office properties in Chicago and Seattle.

In Chicago, Prudential provided a $300 million loan for 155 North Wacker, a 1.15-million-sq.-ft. office tower in the city’s West Loop submarket. The loan features a fixed interest rate and a 10-year term. The property, which was developed in 2009, is currently 94.6 percent leased. 155 North Wacker carries LEED Gold certification and features a glass lobby, high-speed elevators, floor-to-ceiling windows and conference and fitness centers.

In Seattle, Prudential provided a $125 million loan for AEW Capital to refinance West 8 th St., a 498,893-sq.-ft. class-A office tower. The loan features a 12-year term. West 8th St. was developed in 2009 and also carries LEED Gold certification. The building is 97 percent occupied, with Amazon.com serving as its anchor tenant.

AEW acquired the property in November 2012.

TAGS: News Office
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