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| Rendering of planned 35-story office tower at 151 North Franklin, West Loop, Chicago, IL |
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| Michael Kavanau |
CHICAGO, IL -– Holliday
Fenoglio Fowler, L.P. (HFF), in conjunction with The John Buck Company and Bank
of the Ozarks, announced the closing of a $233.3 million construction loan for
the development of CNA Center, a Class A+, 35-story, trophy office tower at 151
North Franklin in Chicago’s West Loop.
HFF worked on behalf of
the developer, The John Buck Company, to place the construction loan with Bank
of the Ozarks.
Designed by the
internationally-acclaimed firms of John Ronan Architects and Adamson
Associates, CNA Center will be the new world headquarters of CNA, a leading
insurance organization and the principal subsidiary and operating company of
CNA Financial.
Additionally, the center
will be the new national headquarters for Hinshaw & Culbertson LLP, an
international law firm. The finished
office tower will feature 807,137 rentable square feet and a 500-stall,
attached parking garage in addition to 34 lower-level parking stalls.
The LEED Gold-certified
building will offer tenants column-free, 25,000-square-foot floor plates with
uninterrupted views and an extensive list of building amenities, including a
4,200-square-foot rooftop terrace with bar, 10,000 square feet of landscaped
exterior courtyards, professionally-managed fitness center, 250-seat conference
center, restaurant, bike room and café/coffee bar.
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| Dan Kaufman |
The tower is currently under construction and
will be completed in the summer of 2018.
CNA Center’s location is in the heart of Chicago’s West Loop.
The HFF debt placement
team representing the borrower was led by senior managing director Michael Kavanau and managing director Danny Kaufman.
“It has been a pleasure to
work with Bank of the Ozarks on behalf of The John Buck Companies,” Kaufman
said. “Both organizations are absolutely
best in class, and have come together to plan and execute a landmark office
development here in downtown Chicago.”
“We experienced a very
strong response from the capital markets to CNA Center,” Kavanau added. “There have been very few new office towers
built in this cycle and very strong tenant demand for new Class A+ space.”
For a complete
copy of the company’s news release, please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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