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CHICAGO-A joint venture headed by Chicago-based Magellan Development Group LLC, the builder of the Lakeshore East development, has secured a construction loan from Northwestern Mutual Life Insurance Co. for a 45-story apartment complex on the Chicago River. Magellan has secured $99.5 million in construction loan to finance the 499-unit apartment building located east side of the Swissotel.

Magellan and JP Morgan Asset Management are also investing nearly $50 million in the building. Brininstool Kerwin & Lynch has designed the complex.For the full story, go to Crain’s Chicago Business.


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