Friday, April 18, 2014

Essex Realty Group Brokers the Sale Of Multi-Family Apartment Building in Skokie, IL

7381 North Damen Avenue apartments, Rogers Park Neighborhood, Chicago, IL

Kate Varde
CHICAGO, IL,  April 18, 2014 - Essex Realty Group, Inc. is pleased to announce the recent sale 7381 N. Damen Ave., a 32 unit courtyard building located in Chicago’s Rogers Park neighborhood. 

The Property is situated on the northwest corner of Damen and Fargo Avenues.

The property was significantly renovated including the individual units, kitchens, bathrooms and common areas. 

In addition various amenities were added to the property including space built out for future use as a gym and a three-room office with a full kitchen and bathroom.

Doug Imber and Kate Varde of Essex represented seller and Jim Darrow and Jordan Gottlieb also of Essex represented the purchaser in the transaction. 

The sale price was approximately $2,400,000. Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

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

Douglas Fisher
Essex Realty Group, Inc.

HFF secures $21.25 million acquisition financing for Hudson’s Bay Centre in Denver, CO

Hudson's Bay Centre, central business district, Denver, CO

DENVER, CO – HFF announced today that it has secured $21.25 million in financing for Hudson’s Bay Centre, a Class A, 172,912-square-foot boutique office building in Denver’s central business district.

Josh Simon
               Working on behalf of the borrower, a 50/50 partnership between MDC Realty Advisors USA, Inc. and Artis REIT, HFF placed the seven-year, 3.76 percent, fixed-rate loan with Principal Real Estate Investors.  Loan proceeds were used to acquire the property.

               Hudson’s Bay Centre is located at 1600 Stout Street along the mile long 16th Street Mall in the Midtown East section of Denver’s central business district.  The transit-oriented, 20-story property, which is currently 96.4 percent leased, is adjacent to the 16th and Stout Station RTD light rail station and a half of a block away from the 16th and California Station.

               The HFF team representing the borrower was led by director Josh Simon and real estate analyst Leon McBroom.

               MDC Realty Advisors USA, Inc. through its affiliated company Hannay Realty Advisors is a private commercial real estate company that focuses on asset and property management in the United States.  Hannay Realty Advisors currently manages approximately 12 million square feet of commercial properties and has offices in Phoenix, Denver, Los Angeles, Orange County, San Francisco and Las Vegas.

Artis REIT (TSX: AX.UN), is one of the largest diversified commercial real estate investment trusts in Canada.  Artis REIT’s management team has extensive experience in construction, development, and management of commercial and other properties in Canada and the United States. Over the last 10 years, Artis has executive an aggressive but disciplined growth strategy, building a portfolio of office, retail and industrial properties in Canada and select U.S. markets with a major concentration in Western Canada. 

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
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |