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. The tower is currently under construction and will be completed in the summer of 2018.
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, it will house 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.
The HFF debt placement team representing the borrower was led by senior managing director Michael Kavanau and managing director Danny Kaufman.