HFF Arranges $171.2M Financing for North Harbor Tower in Chicago’s Lakeshore East
mercredi 5 juin 2019, 00:02 , par Digital Pro Sound
CHICAGO–(BUSINESS WIRE)–$HF #CRE–Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged
$171.2 million in financing for North Harbor Tower, a 600-unit,
high-rise apartment building in Chicago’s Lakeshore East neighborhood.
HFF worked on behalf of the borrower, Waterton, to secure the
seven-year, fixed-rate loan through Freddie Mac’s Green Advantage
program. The loan will be serviced by HFF, a Freddie Mac Optigo℠ lender
for Conventional Loans.
North Harbor Tower is located at 175 North Harbor Drive immediately
adjacent to a mix of residential living, a Mariano’s Fresh Market and
the six-acre Lakeshore East Park. Originally constructed in 1988, the
55-story tower offers 360-degree views of Lake Michigan, Navy Pier, the
Museum Campus, Maggie Daley Park, the Chicago River and downtown
Chicago. The property comprises 96 studio, 72 convertible, 234
one-bedroom, 108 two-bedroom and 90 three-bedroom units averaging 958
square feet in size. Community amenities include an indoor swimming pool
with retractable doors; outdoor sundeck; outdoor activity area with fire
pit and lounge; 24-hour fitness center; party room with billiards;
24-hour library; and easy access to local expressways and all of
Chicago’s downtown and lakefront amenities.
The HFF debt placement team representing the seller was led by managing
director Stephen Skok and directors Stella Pappas and Gregory Napper.
Waterton is a real estate investor and operator with a focus on U.S.
multifamily, senior living and hospitality properties. Founded in 1995,
Waterton executes value-add strategies and manages a national portfolio
of multifamily and hospitality properties on behalf of institutional
investors, family offices and financial institutions. Waterton manages
its multifamily and senior living properties through a vertically
integrated operations platform. Waterton has expertise in selecting and
managing attractive risk adjusted real estate investments located in
major markets around the United States. Waterton is privately held and
is headquartered in Chicago with regional teams throughout the United
States. As of December 31, 2018, Waterton’s portfolio included
approximately $4.9 billion in real estate assets. Visit Waterton’s
HFF and its affiliates operate out of 26 offices and are a leading
provider of commercial real estate and capital markets services to the
global commercial real estate industry. HFF, together with its
affiliates, offers clients a fully integrated capital markets platform,
including debt placement, investment advisory, equity placement, funds
marketing, M&A and corporate advisory, loan sales and loan servicing.
HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities
Limited are owned by HFF, Inc. (NYSE: HF). For more information, please
or follow HFF on Twitter @HFF.
STEPHEN SKOKHFF Managing Director(312) firstname.lastname@example.org
OLIVIA HENNESSEYHFF Public Relations Specialist(713)
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jeu. 6 août - 17:40 CEST