CHICAGO (October 30, 2018) – Perkins Coie represented Optima, Inc., a vertically-integrated, luxury residential development firm providing development, architecture, design, construction, sales, and property management services, in the negotiation of its $215 million term loan for its “Optima Signature” project, which refinances previous construction debt on the property. Perkins Coie had previously represented Optima, Inc. in the negotiation of the original construction financing.

Optima Signature is a 57-story residential community in the Streeterville neighborhood of Chicago. The building is LEED Silver Certified and contains 1.5 acres of community amenity space across three floors, including indoor- and outdoor-heated swimming pools, cabanas, bars, and a fitness center offering a virtual workout studio and steam rooms.

Bank of America served as the administrative agent and lender in the transaction. The bank originated the construction loan for Optima, Inc. in 2015, and with this transaction, converted the construction loan into a term loan. The deal closed on September 28, 2018.

Led by Perkins Coie Chicago partner Daniel Marre, the Perkins Coie team included associate Neva Wagner.

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