CHICAGO, IL, May 7, 2008– The Boston and Chicago offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged financing for 550 West Washington,(photo above) a Class A+ office building located in Chicago’s West Loop.
HFF directo
r Tim Joyce (top right photo) and senior managing directors Mike Kavanau (photo at left) and Fred Wittmann (photo at left below Kavanau) (Boston) led the debt placement team that secured $72.1 million for an affiliate of Beacon Capital Partners, LLC.
r Tim Joyce (top right photo) and senior managing directors Mike Kavanau (photo at left) and Fred Wittmann (photo at left below Kavanau) (Boston) led the debt placement team that secured $72.1 million for an affiliate of Beacon Capital Partners, LLC. The 5.84%, five-year fixed-rate loan was provided by Landesbank Hessen-Thuringen Girozentrale (Helaba). Based in Boston, Beacon Capital Partners sponsors real estate investment funds that focus on office property investments in a select number of target markets throughout the United States and Western Europe.
550 We
st Washington is 97.5% leased to investment grade tenants. The 371,415-square-foot, 16-story property is located in the west loop submarket of Chicago’s CBD.
st Washington is 97.5% leased to investment grade tenants. The 371,415-square-foot, 16-story property is located in the west loop submarket of Chicago’s CBD. “550 West Washington generated huge interest from the lender community given the superior sponsorship and strong tenancy,” said Joyce.
CONTACTS:
Laurie Fish McDowell
HFF Associate Director, Marketing One Post Office Square, Suite 3500
Boston, MA 02109
tel 617.338.0990
fax 617.338.2150
Michael A. Kavanau
HFF Senior Managing Director
312 528 3650
Timothy J. Joyce
HFF Director
312 528 3650
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