FOR IMMEDIATE RELEASE
September 25, 2019
Byline Commercial Real Estate supports NorthPoint Development’s Phase 1 Construction of its Avenue O Project in Chicago, IL
CHICAGO, IL – Byline Bank’s Commercial Real Estate group announced that it provided financing for the construction of a Class A, state of the art industrial warehouse and distribution facility totaling 359,000 square feet located in the Avenue O Industrial Park at Avenue O and 122nd street in Chicago’s City South submarket. Byline was represented by Duane Morris.
Byline’s CRE team worked with NorthPoint as the company completed its redevelopment agreement with the City of Chicago and kicked-off the first new building in the park.
“Byline is pleased to support NorthPoint Development’s vision to transform the abandoned Republic Steel site in Hegewisch into a thriving industrial park that will bring jobs and vitality to the area,” said John M. Barkidjija, Executive Vice President and Head of Commercial Real Estate & Specialty Finance at Byline Bank. “In addition to assisting Northpoint, we’re proud to satisfy our commitment to Community Reinvestment through the the creation of jobs in the communities we serve. We’re excited to begin this relationship with NorthPoint, furthering Byline’s strategy of building lasting relationships with best-in-class sponsors.”
“We deeply value the relationship we established with Byline Bank’s Commercial Real Estate group. They were able to understand the nuances of the redevelopment agreement and be patient as we worked through the process with the City of Chicago. We look forward to our future together with Byline,” said Nathaniel Hagedorn, CEO of NorthPoint Development.
About Byline Commercial Real Estate Group
Byline Commercial Real Estate, headquartered in Chicago, IL, provides first mortgage loans secured by properties in the Chicagoland area as well as loans throughout the United States for Chicago based sponsors and other Byline customers. Since 2014, Byline Bank Commercial Real Estate group has closed over $1 billion of loans for its target market, focusing on industrial, multi-family (including student housing), retail and office properties. For more information visit: www.bylinebank.com/commercial-real-estate.
About Byline Bank
Headquartered in Chicago, Byline Bancorp, Inc. is the parent company for Byline Bank, a full service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank has approximately $5.4 billion in assets and operates more than 60 full service branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and retail banking products and services including small ticket equipment leasing solutions and is one of the top five Small Business Administration lenders in the United States.
For more information please contact:
John M. Barkidjija
Executive Vice President,
Head of Commercial Real Estate & Specialty Finance