South Bend, IN

$20,000,000 First Mortgage

In December 2016, a $20.0 million first-mortgage loan was provided to finance the redevelopment of the Chase Tower, a 25-story, approximately 380,000 square foot building located in South Bend, Indiana. The loan was structured as a multi-tranche facility to support the conversion of the property from office use into a mixed-use asset consisting of a 177-key Aloft hotel and 88 multifamily units, along with a parking component containing 227 spaces.