CHICAGO — Canyon Street Partners has funded a $106.3 million loan, arranged by JLL Capital Markets, for a joint venture led by Mavrek Development. Mavrek will use the loan to refinance existing debt on The Saint Grand, a 248-unit, 21-story mixed-use tower in Chicago’s Streeterville submarket.
The joint venture partners broke ground on the asset in 2023 and opened it in 2024. In addition to the 248 apartments, The Saint Grand has a 103-space parking garage and about 47,000 square feet of retail space, currently leased to Club Studio Fitness, Wintrust Bank and Tropical Smoothie Café. The property offers a range of amenities including coworking areas, electric vehicle charging stations, bike storage, 24-hour concierge services, an outdoor pet area and a rooftop terrace with a fitness center, pool, fire pit and grilling stations.