Permanent Loan - Refinance
- 93,863 sf Office Building
- Chicago, IL
Axiom Capital Corporation has arranged $14,000,000 in permanent financing for a data center in Downtown Chicago, IL. The non-recourse loan was for 10 years at a fixed rate and demonstrated a 1.83x Debt Service Coverage, at a 63.6% LTV amortized over 30 years.
The subject property is a 93,863 SF telecommunications facility located on 0.22 acres and is leased to tenants that provide data and fiber optic communications, connecting major cities across the nation. Major tenants include AT&T, BT America’s, First Communications, and Cimco/Comcast. Tenants of the Property provide business and the mercantile exchange in downtown Chicago critical data and communications services that cannot be replaced.
The subject property is located within downtown Chicago. The building is the closest major communications and data center to the Chicago Mercantile Exchange, which is just a few blocks away. The subject property is in the Chicago Central Business District in the Central Loop submarket. It is approximately 15 miles southeast of O’Hare International Airport and eight miles northeast of Midway Airport.