JPMorgan, Sterling Bay Secure $213 Million Fulton Market Tower Refinance
Updated
Updated · Bloomberg · Jul 31
JPMorgan, Sterling Bay Secure $213 Million Fulton Market Tower Refinance
2 articles · Updated · Bloomberg · Jul 31
Summary
$213 million in three-year financing was secured for 360 North Green Street, a 500,000-square-foot office tower in Chicago's Fulton Market neighborhood.
Barings issued the loan, which closed last week, refinancing a building owned by a JPMorgan Asset Management fund and developer Sterling Bay.
The tower was completed in 2024 and is 76% leased, giving lenders enough occupancy to back a recently built top-tier asset.
The deal highlights a split in Chicago's office market, where high-end properties can still attract capital while weaker buildings struggle to obtain financing.