#United States #Chicago #Canyon Partners #Mavrek Development #The Saint Grand

Canyon Partners Real Estate Finances a New Luxury Property in Chicago

On July 28, 2025, Canyon Partners Real Estate LLC (often referred to simply as Canyon) announced a significant milestone in urban development—a $106.3 million senior loan provided to Mavrek Development. This financing is aimed at refinancing The Saint Grand, an exceptional Class-A multifamily property located in the vibrant Streeterville neighborhood of downtown Chicago, Illinois. This financial arrangement was facilitated through JLL Capital Markets, a premier commercial real estate services firm.

A Closer Look at The Saint Grand

The Saint Grand is not just another residential building; it represents modern urban living at its finest. Towering at 21 stories, this newly constructed mixed-use property features 248 market-rate apartment units. Each unit is designed with luxurious amenities—a stark highlight being the floor-to-ceiling windows that offer panoramic views of the bustling cityscape. Other interior features include luxury plank flooring, custom quartz countertops, and the convenience of in-unit washers and dryers, ensuring that residents enjoy both comfort and style.

Beyond its residential offerings, The Saint Grand boasts a substantial 103-stall parking garage and approximately 46,946 square feet of prime retail space. The retail section welcomes three popular retailers: Club Studio Fitness, Wintrust Bank, and Tropical Smoothie Café, making it an attractive locale for both residents and visitors.

Resident Amenities

The Saint Grand is packed with a variety of amenities to enhance residents' lifestyles. Among these are:

• - Co-working areas for remote work or meetings.
• - EV charging stations promoting sustainability.
• - Bike storage as part of a commitment to green living.
• - 24/7 concierge services to assist residents at any time.
• - An engaging outdoor pet area that caters to pet owners.
• - An expansive rooftop terrace featuring a state-of-the-art fitness center, a swimming pool, fire pit, and grilling stations, perfect for social gatherings.

This property’s location is also a key selling point, located within a short walking distance from Chicago's famous Magnificent Mile and Northwestern Medicine's extensive 7-block Downtown Medical Campus. It is nestled beautifully against the scenic backdrop of Lake Michigan, ensuring that residents have easy access to lakefront recreation areas. Sandwiched between a Whole Foods Market and proximity to both Trader Joe's and Target, The Saint Grand is positioned to meet all residents’ daily needs conveniently.

Canyon's Broader Vision

Canyon Partners' investment in The Saint Grand reflects its strategic direction towards expanding bridge debt capital across commercial real estate assets throughout key U.S. markets. Since its inception in the multifamily sector, the company has allocated more than $3.0 billion in debt and equity capital towards various projects, successfully capitalizing approximately $14.6 billion in multifamily developments.

Founded in 1991, Canyon Partners has established itself as a seasoned player in direct real estate investments. As a component of Canyon Partners, LLC—a global alternative asset manager boasting $28 billion in assets under management—Canyon has executed over 272 transactions valued at close to $32.4 billion over the past fifteen years. Their expertise extends across numerous property types, U.S. regions, and project stages, underscoring their ability to navigate and capitalize on diverse real estate opportunities.

About Participants

Mavrek Development, established in 2010, has quickly emerged as a pivotal name in Chicago's real estate sector. Initially starting with luxury single-family homes, Mavrek has transitioned into high-quality urban developments, contributing to revitalizing urban landscapes. Their commitment to Chicago and their strategic approach uniquely positions Mavrek among the city’s leading developers.

JLL, a global leader in commercial real estate services, has been instrumental in facilitating transactions like this through its robust service offerings, reflecting more than 200 years of expertise in the sector. By bridging the gap between real estate needs and market realities, JLL remains a trusted partner in the industry.

For more detailed insights into this growing development and ongoing projects by Canyon Partners and Mavrek Development, interested parties can visit their respective websites.