CHICAGO-Bank Hapoalim has granted a $75 million loan to Red SeaGroup's subsidiary, Server Farm Realty Inc., to redevelop aneight-story office structure situated at 840 S. Canal Street as adata center. Server Farm purchased the property in the South Loopfrom Northern Trust Corp. in 2010 and started the $220-millionredevelopment last fall.
As per the conversion plan, Server Farm upgrades the building'smechanical structure and constructs the first five floors toaccommodate servers utilizing $70 million in equity. Forthe full story, go to Crain's Chicago Business.
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