Monday, July 8, 2013

HFF arranges $18 million bridge financing for Greenspoint Office Park in suburban Chicago, IL

Greenspoint Office Park, Chicago, IL

CHICAGO, IL – HFF announced today that it has arranged $18 million in bridge financing for Greenspoint Office Park, a three-building, Class A office portfolio totaling 498,635 square feet in Hoffman Estates, a northwest suburb of Chicago.

Trent Niederberger
                HFF worked on behalf of the borrower, LPC Realty Advisors I, Ltd. (LPCRA), to secure the $18 million bridge financing through correspondent lender Aetna Life Insurance Company.  The three buildings were financed via two cross-collateralized loans that carry a total blended cost of funds below five percent fixed for three years.  

                Greenspoint Office Park consists of Barrington Pointe (148,385 square feet), Greenspoint I (202,838 square feet) and Greenspoint III (147,412 square feet), which were built in 1986, 1989 and 2000 respectively.

 Notable tenants include Vistex, Inc., Siemens, Arcadis, U.S., Inc. and Kimberly-Clark.  The properties are located at 2300 North Barrington Road, 2800 West Higgins Road and 2895 Greenspoint Parkway at the interchange of Interstate 90 and Barrington Road in the northwest suburban market. 

Mike Kavanau

                The HFF debt placement team representing the borrower was led by Trent Niederberger and Mike Kavanau.  The property was sold earlier this year by the HFF investment sales team led by Jeff Bramson, Jaime Fink and Mark Katz.

LPC Realty Advisors I, Ltd. (LPCRA) is an advisory affiliate of Lincoln Property Company. LPCRA and acts as investment advisor to a public pension fund.

  For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel (main) 617-338-0990 | (direct) 617-338-1572 | cel 617.543.4873 |

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