{"id":1004719536,"date":"2024-07-01T03:25:00","date_gmt":"2024-07-01T11:25:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004719536"},"modified":"2024-07-01T05:22:25","modified_gmt":"2024-07-01T13:22:25","slug":"lincoln-jv-lands-refi-for-st-louis-office-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/","title":{"rendered":"Lincoln JV Lands Refi for St. Louis Office Tower"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/4639.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"480\" data-attachment-id=\"1004719555\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/the_sevens_lincoln_st_louis\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/4639-edited.jpg\" data-orig-size=\"640,480\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"The_Sevens_Lincoln_St_Louis\" data-image-description=\"&lt;p&gt;Property at 7777 Bonhomme Ave., St. Louis&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Lincoln renovated the 1971-built tower in 2017.  Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/4639-edited.jpg?w=640\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/4639-edited.jpg\" alt=\"Property at 7777 Bonhomme Ave., St. Louis\" class=\"wp-image-1004719555\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/4639-edited.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/4639-edited.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><figcaption class=\"wp-element-caption\">Lincoln renovated the 1971-built tower in 2017. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>A joint venture between Lincoln Property Co. and IMC Management has secured a refinancing loan for The Sevens, a 197,311-square-foot Class A office building in Clayton, Mo. Additionally, Lincoln recapitalized the asset, adding IMC to the venture.<\/p>\n\n\n\n<p>Old National Bank provided the $19.4 million note with a maturity date set in May 2027, St. Louis County records show. Previous financing included a $19.6 million bridge loan also originated by Old National Bank in 2022, according to CommercialEdge information.<\/p>\n\n\n\n<p>Lincoln purchased the metro St. Louis asset in a joint venture with Stockbridge in 2015. EQ Office sold it for $10.7 million, CommercialEdge also shows.<\/p>\n\n\n\n<p>Completed in 1971 and renovated in 2000 and 2017, the <a href=\"https:\/\/www.commercialsearch.com\/news\/capital-ideas-the-case-for-vintage-office-properties\/\">vintage office building<\/a> rises 24 stories and includes eight levels of parking with 888 spaces. The tower features 18,186-square-foot floorplates, an on-site caf\u00e9, conference center and gym, among others.<\/p>\n\n\n\n<p>The property is 73 percent leased. Riot Games, the League of Legends video game\u2019s developer, recently renewed the lease on one of the two floors it occupies the building. NUSO, a communications-focused software-as-a-service provider, also signed a full-floor commitment with limited downtime. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-st-louis-office-vacancy-rate-stabilizes\">St. Louis&#8217; office vacancy rate stabilizes <\/h2>\n\n\n\n<p>Located at 7777 Bonhomme Ave., The Sevens is nestled inside the city\u2019s central business district, while downtown St. Louis is some 10 miles east. Clayton received federal grants for the CBD\u2019s Resurfacing Project, which started this March and aims to mill and overlay the streets.<\/p>\n\n\n\n<p>Several upscale dining facilities, transit stops and a 47-acre park are within walking distance of the property. Roughly 10 miles away, a joint venture of Good Developments Group, Vault Partners and Millstone Co. is planning a $1.2 billion mixed-use development spanning 100 acres. CBRE was selected <a href=\"https:\/\/www.commercialsearch.com\/news\/cbre-tapped-to-lease-part-of-1-2b-st-louis-mixed-use-district\/\">to provide brokerage services<\/a> for up to 500,000 square feet of Class A office space.<\/p>\n\n\n\n<p>The<a href=\"https:\/\/www.nmrk.com\/insights\/market-report\/st-louis-market-reports\" target=\"_blank\" rel=\"noreferrer noopener\"> office vacancy rate in metro St. Louis<\/a> stood at 14.6 percent at the end of 2024\u2019s first quarter, according to a Newmark report. The figure marked a 50-basis-point decrease year-over-year, but a 10-basis-point increase quarter-over-quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Old National Bank provided the note, which is due to mature in 2027.<\/p>\n","protected":false},"author":3471,"featured_media":1004719538,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,13,21742,21747,1611],"tags":[43400,34930],"class_list":["post-1004719536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-midwest","category-latest","category-office","category-st-louis","tag-eq-office","tag-lincoln-property-co"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lincoln JV Lands Refi for St. Louis Office Tower - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Lincoln Property Co. and IMC Management have secured a $19.4 million refinancing loan for The Sevens, an office tower in St. Louis metro.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lincoln JV Lands Refi for St. Louis Office Tower\" \/>\n<meta property=\"og:description\" content=\"Lincoln Property Co. and IMC Management have secured a $19.4 million refinancing loan for The Sevens, an office tower in St. Louis metro.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-01T11:25:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-01T13:22:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/4639-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Claudiu Tiganescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/\",\"name\":\"Lincoln JV Lands Refi for St. Louis Office Tower - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/4639-1.jpg\",\"datePublished\":\"2024-07-01T11:25:00+00:00\",\"dateModified\":\"2024-07-01T13:22:25+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cbed638584257d6fb5a2a9c95c982b66\"},\"description\":\"Lincoln Property Co. and IMC Management have secured a $19.4 million refinancing loan for The Sevens, an office tower in St. Louis metro.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/4639-1.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/4639-1.jpg\",\"width\":640,\"height\":480,\"caption\":\"Lincoln renovated the 1971-built tower in 2017. Image courtesy of CommercialEdge\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Lincoln JV Lands Refi for St. Louis Office Tower\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cbed638584257d6fb5a2a9c95c982b66\",\"name\":\"Claudiu Tiganescu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Claudiu_Tiganescu.jpg?w=54\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Claudiu_Tiganescu.jpg?w=54\",\"caption\":\"Claudiu Tiganescu\"},\"description\":\"Claudiu Tiganescu is an Associate Editor with Multi-Housing News and Commercial Property Executive. With a Bachelor's in English, a minor in Norwegian, and a Master's in linguistics, Claudiu is your go-to source for the latest commercial real estate news, particularly in the affordable, single-family rental, conversions and industrial sectors. You may reach him at claudiu.tiganescu@cpe-mhn.com\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/claudiu-tiganescu\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Lincoln JV Lands Refi for St. Louis Office Tower - Commercial Property Executive","description":"Lincoln Property Co. and IMC Management have secured a $19.4 million refinancing loan for The Sevens, an office tower in St. Louis metro.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/","og_locale":"en_US","og_type":"article","og_title":"Lincoln JV Lands Refi for St. Louis Office Tower","og_description":"Lincoln Property Co. and IMC Management have secured a $19.4 million refinancing loan for The Sevens, an office tower in St. Louis metro.","og_url":"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2024-07-01T11:25:00+00:00","article_modified_time":"2024-07-01T13:22:25+00:00","og_image":[{"width":640,"height":480,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/4639-1.jpg","type":"image\/jpeg"}],"author":"Claudiu Tiganescu","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/","url":"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/","name":"Lincoln JV Lands Refi for St. Louis Office Tower - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/4639-1.jpg","datePublished":"2024-07-01T11:25:00+00:00","dateModified":"2024-07-01T13:22:25+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cbed638584257d6fb5a2a9c95c982b66"},"description":"Lincoln Property Co. and IMC Management have secured a $19.4 million refinancing loan for The Sevens, an office tower in St. Louis metro.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/4639-1.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/4639-1.jpg","width":640,"height":480,"caption":"Lincoln renovated the 1971-built tower in 2017. Image courtesy of CommercialEdge"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/lincoln-jv-lands-refi-for-st-louis-office-tower\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Lincoln JV Lands Refi for St. Louis Office Tower"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cbed638584257d6fb5a2a9c95c982b66","name":"Claudiu Tiganescu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Claudiu_Tiganescu.jpg?w=54","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Claudiu_Tiganescu.jpg?w=54","caption":"Claudiu Tiganescu"},"description":"Claudiu Tiganescu is an Associate Editor with Multi-Housing News and Commercial Property Executive. With a Bachelor's in English, a minor in Norwegian, and a Master's in linguistics, Claudiu is your go-to source for the latest commercial real estate news, particularly in the affordable, single-family rental, conversions and industrial sectors. You may reach him at claudiu.tiganescu@cpe-mhn.com","url":"https:\/\/www.commercialsearch.com\/news\/author\/claudiu-tiganescu\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/4639-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004719536","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/3471"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004719536"}],"version-history":[{"count":8,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004719536\/revisions"}],"predecessor-version":[{"id":1004719608,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004719536\/revisions\/1004719608"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004719538"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004719536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004719536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004719536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}