New Zurich American HQ Pulls In $333M In Financing

By Andrew McIntyre (April 17, 2014, 6:17 PM EDT) -- St. Louis construction firm Clayco Inc. and landlord Stonemont Financial Group LLC secured more than $333 million to fund land acquisition and development for insurance giant Zurich American Insurance Co.'s new North America headquarters outside Chicago, financing arranger Jones Lang LaSalle announced Wednesday.

The project — a 735,000-square-foot development on 40 acres in Schaumburg, Ill., close to the company's current headquarters — is the largest sole-tenant net-leased new construction this year, according to Jones Lang LaSalle.

"The fact that one of the largest insurance companies in the world is choosing to remain here is proof of the solid trajectory of the...

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