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Deals & Dealmakers

Lionheart Strategic Management and Bank OZK Provide $215 Million in Funding to 601W Companies for Office Redevelopment in Chicago

Lionheart Strategic Management LLC (Lionheart), an affiliate of Fisher Brothers that manages capital on behalf of third party investors, announced today that it originated a $67.6 million investment in the form of a mezzanine loan and preferred equity on behalf of Milestone Asset Management. The investment sits behind a $147.5 million senior loan from Bank OZK and was provided to 601W Companies. The financing will be used to redevelop 801 South Canal Street into a modern and highly amenitized 700,000 square foot office building located near Union Station in the vibrant Southwest Loop neighborhood of Chicago, Illinois.

“As the West Loop neighborhood of Chicago continues to attract new companies and residents, we are thrilled to support 601W in their vision of redeveloping 801 South Canal Street and to further strengthen our relationship with Bank OZK,” said Sang Kim, Associate at Lionheart Strategic Management LLC

601W Companies plans to redevelop the Property, which is one block away from its $1 billion renovation of the Old Post Office building. The Old Post Office, which 601W Companies acquired in 2016, is now 95% leased and features a unique 3.5 acre urban rooftop oasis and an 18,000 square foot food hall. 

Lionheart and Bank OZK recently announced its partnership to provide $150 million in funding to Two Roads Development for a residential development in Miami.

Andy Klein and Sang Kim led the transaction for Lionheart Strategic Management. 

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