2005 Transactions

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Tremont Structures $13,800,000 Acquisition Financing for Two Loft Office Buildings
The Chicago office of Tremont Realty Capital arranged the acquisition financing of 833 W. Jackson & 322 S. Green Street. Both are "A" quality loft buildings located in the West Loop/River West office market, which border the West loop and "Greek Town" on the east, and the University of Illinois-Circle campus to the south.

A Senior Director with Tremont arranged the 5-year, non-recourse loan with a 30-year amortization, which provided for approximately 80% of the value. The property was 85% occupied at the time of closing. According to Tremont, "The project had a unique position within the downtown office market where the rents were substantially below the Class-A office buildings in the West Loop and yet this property offered brand new space at affordable rental rates. The property is well located within blocks of the commuter train stations that service the city and the suburbs, as well as, many restaurants that line the sidewalks in Greek Town and along Randolph Street."

For additional information on this transaction, please contact:

Thomas Lorenzini
Managing Director
Email: tlorenzini@tremontcapital.com
Phone: 312.236.0960