HFF Arranges $250 Million Financing for Four-Tower Residential Community in Chicago’s West Loop
December 6, 2016 - Picnic Time
CHICAGO–(BUSINESS WIRE)–Holliday Fenoglio Fowler, L.P. (HFF) announced currently that it has
organised $250 million in financing for Presidential Towers, a four-tower
residential village totaling 2,346 units in Chicago’s West Loop.
HFF, on interest of Waterton and a institutional client, placed the
10-year, fixed-rate loan with Barings Real Estate Advisers, one of the
world’s largest real-estate-focused investment managers, behaving on
interest of an institutional investor.
Internationally eminent design organisation Solomon Cordwell Buenz
designed Presidential Towers’ 4 identical, 50-story towers in a
staggered, erratic settlement that spans dual city blocks. Located during 555
West Madison Street, a skill advantages from a vicinity to all of
a executive business district’s retail, dining and entertainment
amenities, as good as employers in a West Loop bureau market, that is
experiencing a resurgence with companies such as Google, Grainger and
Uber relocating into a area. In further to a 2,346 residential units
totaling some-more than 1.6 million block feet, a skill also
encompasses 135,193 block feet of sell space situated on a Clinton
Street sell mezzanine and a four-story, 1,162-stall parking garage.
Presidential Towers offers village amenities, including a 24-hour door
attendant, full-time concierge, sundeck, cruise and barbecuing area,
children’s play area, bicycle and personal storage, cyber core and
lounge. Additionally, residents have approach entrance to on-site retailers
such as Walmart Neighborhood Market, a two-level Fitness Formula
health club, Enterprise Rent-a-Car and several dining options.
HFF’s debt chain organisation representing a borrower was led by managing
executive Stephen Skok.
Waterton is a genuine estate financier and user with a concentration on U.S.
multifamily and liberality properties. Founded in 1995, Waterton
executes value-add strategies and manages a inhabitant portfolio of
multifamily and liberality properties on interest of institutional
investors, family offices and financial institutions. Since its
formation, a association has invested over $5.3 billion in assets.
Waterton is secretly hold and is headquartered in Chicago with regional
teams via a United States. Currently, Waterton’s portfolio
includes approximately $4 billion in assets, including approximately
20,000 multifamily units and 13 hotels. Visit Waterton’s new website: www.waterton.com.
About Barings Real Estate Advisers
Barings Real Estate Advisers, a auxiliary of Barings, is one of the
world’s largest diversified genuine estate-focused investment advisers,
with $50 billion* in resources underneath management. The organisation is an active
financier in private and public, equity and debt markets, and provides
core, value-added, and opportunistic investment and advisory services to
institutional and other competent investors around a globe.
Barings is a $284+billion* tellurian item government organisation dedicated to
assembly a elaborating investment and collateral needs of a clients. The
organisation builds durability partnerships that precedence a particular expertise
opposite normal and choice item classes to broach innovative
solutions and well-developed service. A member of a MassMutual Financial
Group, Barings maintains a clever tellurian participation with over 600
investment professionals and offices in 17 countries. Learn more, during www.barings.com.
*As of Sep 30, 2016.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).
HFF operates out of 23 offices inhabitant and is a heading provider of
blurb genuine estate and collateral markets services to a U.S.
blurb genuine estate industry. HFF together with a associate HFFS
offer clients a entirely integrated inhabitant collateral markets platform
including debt placement, investment sales, equity placement, advisory
services, loan sales and blurb loan servicing. For some-more information
greatfully revisit hfflp.com
or follow HFF on Twitter @HFF.