Saturday, December 10, 2016

HFF arranges $250 million financing for four-tower residential community in Chicago’s West Loop

Stephen Skok
CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $250 million in financing for Presidential Towers, a four-tower residential community totaling 2,346 units in Chicago’s West Loop.

HFF, on behalf of Waterton and its 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, acting on behalf of an institutional investor.

Internationally renowned architecture firm Solomon Cordwell Buenz designed Presidential Towers’ four identical, 50-story towers in a staggered, diagonal pattern that spans two city blocks.

 Located at 555 West Madison Street, the property benefits from its proximity to all of the central business district’s retail, dining and entertainment amenities, as well as employers in the West Loop office market, which is experiencing a resurgence with companies such as Google, Grainger and Uber moving into the area.

 In addition to the 2,346 residential units totaling more than 1.6 million square feet, the property also encompasses 135,193 square feet of retail space situated on the Clinton Street retail corridor and a four-story, 1,162-stall parking garage. 

Presidential Towers offers community amenities, including a 24-hour door attendant, full-time concierge, sundeck, picnic and grilling area, children’s play area, bicycle and personal storage, cyber center and lounge.  Additionally, residents have direct access to on-site retailers such as Walmart Neighborhood Market, the two-level Fitness Formula health club, Enterprise Rent-a-Car and several dining options.

HFF’s debt placement team representing the borrower was led by managing director Stephen Skok.

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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