601W Companies receives $215 million in loan, preferreds funding

Chicago, Aug. 17 – 601W Companies has been provided with $215 million in funding to redevelop 801 South Canal Street in Chicago, according to a press release.

Bank OZK first provided a senior loan for $147.5 million. This was followed up with a $67.4 million investment in the form of a mezzanine loan and preferred equity on behalf of Milestone Asset Management. The Milestone financing was originated by Lionheart Strategic Management LLC.

Chicago-based 601W Companies is previously responsible for the $1 billion renovation of the Old Post Office building in Chicago.

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