Northwind Group Provides a $58.5 Million First-Mortgage Acquisition Loan Secured by a 22-Story Office Building in Chicago's Central Loop

NEW YORK, Feb. 3, 2026 /PRNewswire/ -- Northwind Group, a Manhattan-based real estate private equity firm and debt fund manager, announced today that it provided a $58.5 million first mortgage loan financing the acquisition and lease-up of 175 West Jackson Boulevard, a 22-story office property totaling over 1.4 million square feet, including a 240-space parking garage. The loan was structured with $33.5 million ($24/RSF) initial advance at closing, with an additional $25.0 million reserved as a "good news" facility to fund future accretive leasing costs. The property is located in Chicago's Central Loop, occupying a full city block fronting Jackson Boulevard and Van Buren Street, and benefits from immediate access to multiple CTA lines and the city's primary commuter hubs.

The property was acquired by a joint venture between 601W Companies and David Werner Real Estate Investments, both repeat borrowers of Northwind. The financing facilitated the acquisition at a significantly reset basis, reflecting an approximately 85% discount to the property's prior purchase price by Brookfield. The building has undergone extensive renovations and modernization, with over $24 million of capital improvements completed by prior ownership, including a new amenity center and rooftop space on the 22nd floor. The recent capital investment, combined with large floor plates averaging approximately 70,000 square feet, and a reset attractive ownership basis, positions the property well to capture demand from large-format tenants in the Chicago CBD.

David Werner said "This acquisition continues our thesis of high-quality assets in strong locations at a reset basis. Thank you to Ran Eliasaf and Michael Ainbinder at Northwind Group for their continued trust in DREWI and 601W, and for moving quickly and thoughtfully to get this transaction closed."

"We are excited to continue and expand our relationship with the sponsors, and to provide them with a flexible financing solution to revitalize the asset to its' historically strong occupancy levels." said Ran Eliasaf, Founder and Managing Partner of Northwind Group. "Over the past year, we have seen a meaningful increase in institutional capital re-entering the Chicago office market as well as gradually increasing leasing activity and in that environment, acquiring a high-quality asset at an attractive entry point, together with dedicated capital for leasing and tenant improvements, creates a meaningful advantage by allowing experienced owners to be proactive and competitive in attracting new tenants. We believe this combination, coupled with the property's strong location and flexible large floor plates, positions the asset well for successful business plan execution. This conviction is informed by our prior experience working with this sponsorship group in a recent Chicago office financing by Northwind of 303 East Wacker in which they successfully leased over 125,000 square feet within one year of acquisition."

About Northwind Group
Founded in 2008 by Ran Eliasaf, Northwind Group is a Manhattan-based real estate private equity firm and debt fund manager specializing in credit investments through its discretionary, closed-ended debt funds. The firm has successfully executed $9.0 billion in real estate transactions in the US across more than 400 real estate and healthcare properties. For further information, go to www.northwind-group.com.

About 601W Companies
The principals of 601W Companies oversee one of America's leading private real estate acquisitions, ownership, development, and management portfolios in the country. Over the past twenty-five years, 601W has acquired many substantial and well-known commercial properties throughout the country, aggregating more than forty-five million square feet.

About David Werner Real Estate
David Werner is a NYC-based real estate investor who has been actively involved in commercial real estate for more than 40-years. He has extensive experience investing in both office and residential properties in NYC and Chicago.

Media Contact: [email protected]

SOURCE Northwind Group