Posted Aug 27, 2021, 12:00 AM
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Registered User
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Join Date: Aug 2011
Posts: 2,040
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the NEMA thread seems to be archived and locked, but here's some news. Nothing on Phase 2 sadly.
https://commercialobserver.com/2021/...-nema-chicago/
Bank of China, KKR Refinance Crescent Heights’ NEMA Chicago With $345M Debt Package
Quote:
Crescent Heights has nabbed $345 million in debt from Bank of China and private equity giant KKR to refinance its NEMA Chicago luxury residential tower, the largest such asset in the city, Commercial Observer has learned.
Bank of China supplied $280 million in senior debt, while KKR provided $65 million in mezzanine debt to round out the stack, sources said. The loan will pay accrue interest at an all in rate of 2 percent.
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Quote:
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KKR has been involved with NEMA Chicago in a lending capacity at different points in the short time since Crescent broke ground on it, according to Klein, with the private equity firm now sticking around to kick off its new fund vehicle with this deal.
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click here too see hunser's list of the many supertall skyscrapers of New York City!
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