Condor Partners and Northlight Capital Partners, with JP Partners brokering the deal, have announced new funding for Mural Park, a 200,000-square-foot, Class A office project in Chicago, Illinois.
The loan, provided by Northlight Capital Partners, will refinance the existing debt, provide funds to support the continued lease-up of the project, and expand the building’s parking.
“Beginning in 2024, Northlight began looking at the office credit market as a compelling special situation investment opportunity,” said Ben Gerig, Chief Executive Officer of Northlight Capital Partners. “We are excited to work with Condor and look forward to bringing capital to Mural Park as they continue to execute on their business plan and lease up strategy.”
Mural Park is located in Chicago’s historic Pilsen neighborhood. Since opening in 2019, Mural Park has leased 150,000 square feet of office space. Tenants include HCSC, One Hope United, Noble Charter Schools, Relay Graduate School of Education, Puratos, OneSix Solutions, Eversight, and 5 Rabbit Cerveceria.
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