Marquette Cos. lands $56M loan on Naperville mixed-use complex

Marquette Companies CEO Nick Ryan and The Water Street District (Credit: Marquette Companies and Hitchcock Design Group)

Marquette Companies secured a $56 million bridge loan on the Water Street District, a mixed-use development on the Naperville riverfront.

Voya Financial provided financing for the Naperville-based developer’s 175,000-square-foot project, which includes a 158-key Hotel Indigo, restaurants, retail, a parking garage and planned office space, according to Connect Media.

The project was 10 years and $93 million in the making, the Daily Herald reported last year after a dedication of the development.

The financing from Voya was arranged by Berkadia’s Hotels and Hospitality group.

Marquette earlier this year landed a $57 million loan for a 579-unit apartment complex in Elk Grove Village, and is developing a 263-unit rental building in Fulton Market.

Origin Investments and Randolph Street Realty Capital recently landed a $36 million refinancing for the 262-unit Iroquois Club Apartments in Naperville. [Connect Media] — John O’Brien

 

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