McDonald’s HQ Project Receives $209M in Financing

The Chicago development will consist of 485,000 square feet of office space, as well as ground floor retail and underground parking.

Tim Joyce, HFFTim Joyce, HFF

Chicago—A joint venture between Sterling Bay and institutional investors advised by J.P. Morgan Asset Management has received a $209 million construction loan for the development of 110 North Carpenter, the future 567,000-square-foot global headquarters of McDonald’s Corp. in Chicago’s Fulton Market District.

HFF arranged the financing on behalf of the development partnership, placing the construction loan with Bank of America and Wintrust Financial.

“Due to the long-term lease and investment grade credit profile of this development as well as the best-in-class sponsorship and location, we received very strong interest from the lending community and were able to deliver terms and conditions superior to a traditional construction loan,” Tim Joyce, HFF’s managing director, said in a prepared release…

McDonald’s HQ Project Receives $209M in Financing

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