HFF Arranges $171.2M Financing for North Harbor Tower in Chicago’s Lakeshore East
04 Giugno 2019 - 10:17PM
Business Wire
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.
About Waterton
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 website:
https://www.waterton.com/.
About HFF
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 visit
hfflp.com or follow HFF on Twitter @HFF.
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version on businesswire.com: https://www.businesswire.com/news/home/20190604005828/en/
STEPHEN SKOKHFF Managing Director(312)
528-3650sskok@hfflp.com
OLIVIA HENNESSEYHFF Public Relations Specialist(713)
852-3403ohennessey@hfflp.com
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