Prudential Mortgage Capital Co. has provided $300 million in financing for 155 N. Wacker, a 1.15 million-square-foot office tower located in the West Loop submarket. Prudential Mortgage Capital Co. is the commercial mortgage lending business of Prudential Financial Inc.
“Although the office sector has been slow to recover, high-quality transactions such as these have continued, particularly in major markets,” said Thomas Goodsite, a managing director with Prudential Mortgage Capital Co.’s Atlanta office who led the transaction. “We expect to do more of these types of deals as the economy continues to recover, and this sector will play a key role in helping us achieve our 2013 originations goals.”
The 10-year, fixed-rate loan refinances the property for the John Buck Co., which developed it in 2009. Located on the northeast corner of Wacker Drive and Randolph Street, the property is 94.6 percent leased, is within walking distance of major public transportation lines and is just minutes from major highways that provide ready access to the surrounding suburbs.
The 46-story, Class A building is LEED Gold certified and features a glass lobby, state-of-the-art technology including high-speed “smart” elevators, floor-to-ceiling windows and conference and fitness centers.