BIRMINGHAM, Ala. – Nov. 13, 2018 – Regions Bank announced today that the Atlanta Regions Real Estate Banking office recently provided a $50 million term loan for two Class A office towers adjacent to O’Hare International Airport.
Bridge Investment Group’s office division acquired O’Hare International Center (OIC), a pair of nine-story, Class A office towers adjacent to O’Hare International Airport in Rosemont, Ill. More than $5M in capital improvements are planned for the campus, with renovations expected to begin in mid-October. Originally built between 1984 and 1987, the OIC has undergone nearly $4M in renovations since 2012, with a new state-of-the-art fitness center and upgrades to the 1,800+-space parking deck among the recent improvements.
Regions Real Estate Banking is a team of five business groups – Real Estate Corporate Banking, Income Property Finance, Institutional Fund Group, Homebuilder Finance, and Regions Affordable Housing – strategically assembled to meet the needs of professional real estate, companies, developers and investors. Regions delivers competitive products with superior service marked by speed, certainty and creativity, leveraging the bank’s full capabilities to offer a wide range of integrated banking solutions to help real estate businesses succeed and grow.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $125 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,500 banking offices and 2,000 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.
About Bridge Investment Group
Bridge Investment Group LLC (“Bridge”) is a leading privately held real estate investment and property management firm that manages $12+ billion in assets under management within its registered investment advisory businesses. We combine our 1,100-person, nationwide, “boots-on-the-ground” operating platform with specialized teams of investment professionals focused on select US real estate verticals, which we believe offer above-market opportunity: Multifamily, Affordable Housing, Seniors Housing & Medical Properties, Office and Debt Strategies.
