JLL Secures $332 Million in Financing for NEMA Chicago
MT Newswires Live
Jul 14
Jones Lang LaSalle's (JLL) Capital Markets group arranged a $275 million refinancing and $57 million mezzanine financing for NEMA Chicago, a 76-story luxury multifamily tower along Grant Park, the company said Monday.
JLL said it represented borrower Crescent Heights in securing a five-year, fixed-rate loan through New York Life Insurance Company, while the mezzanine loan was arranged through PGIM's real estate business.
The company said the financing comes as downtown Chicago's multifamily market posted 5.4% annual rent growth in the fourth quarter of 2025, supported by limited new supply and a 5.1% vacancy rate.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.