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CHICAGO-A loan used by the John Buck Co. Opportunity Fund II tobuy the two-building, 631,445-sf Triangle Plaza office propertyallows the new owner to spend another $21 million in capital andtenant improvements, as well as leasing commissions. The fund paid$92.1 million for the property, 80% occupied at the time of sale,in March, using an $81.8-million loan from Allstate Investments,arranged by GMAC Commercial Mortgage Corp.

The five-year, floating-rate loan was arranged and closed in 21days, according to GMAC Commercial Mortgage Corp. vice presidentPeter Smolenski. John Buck Co. chief financial officer Kent Swansonnotes his company has received loans from the insurance company'sNorthbrook-based finance company through GMAC Commercial MortgageCorp. before, and the experience helped in the current deal.