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JLL Secures $332 Million in Financing for NEMA Chicago

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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.

Price: $320.66, Change: $-3.78, Percent Change: -1.17%

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