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| Le Chateau, Frontenac, MO |
CHICAGO, IL, March 14, 2017 – Holliday
Fenoglio Fowler, L.P. (HFF) announced today that it has arranged financing for
the acquisition of Le Chateau and the Hilton St. Louis Frontenac, a mixed-use
hotel, office and outparcel asset totaling 325,000 square feet in the St. Louis-area
community of Frontenac, Missouri.
HFF worked on behalf of
the borrower, Bucksbaum Retail Properties, to place the four-year, fixed-rate
loan with Ladder Capital.
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| Dan Kaufman |
The 92.2-percent-leased
asset comprises the 263-room Hilton St. Louis Frontenac, the Le Chateau
80,000-square-foot office building, a 7,132-square-foot Triad Bank outparcel
lease and two Wells Fargo ground leases that total 60,078 square feet.
The Hilton St. Louis
Frontenac features 25,000 square feet of flexible meeting space, a
state-of-the-art fitness center, seasonal outdoor pool, 24/7 business center
and full-service restaurant located at 1335 South Lindbergh Boulevard.
Completed in 1974, the hotel has undergone
renovations throughout the years. The
most recent renovations between 2012 and 2016 included enhancements and
upgrades to the common areas and guest rooms.
Le Chateau, which is famous for its open-cage
elevator with intricate metal work, contains offices, retail space, a health
club, restaurant, catering company and beauty salons.
Located at 10403 Clayton Road, the building’s
French village-style atmosphere is aided by 100-year-old bricks recovered from
an abandoned local brewery that are part of the building’s exterior and a
grand, open-air atrium detailed with railing made from genuine, hand-wrought
Belgium iron. The Wells Fargo ground leases consist of 10401 and 10369 Clayton
Road.
The property is situated
on a total of 16.5 acres bound by Interstate 64, South Lindbergh Boulevard and
Clayton Road in Frontenac, approximately 10 miles from both downtown St. Louis
and Lambert – St. Louis International Airport.
The property is also immediately adjacent to Plaza Frontenac, a luxury
shopping center anchored by Saks Fifth Avenue and Neiman Marcus.
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| Jeff Bucaro |
The HFF debt placement
team representing the borrower was led by managing director Danny Kaufman and director Jeff Bucaro.
“We were thrilled to work
with the team at Bucksbaum Retail Properties to secure this financing,” Kaufman
said. “Le Chateau is a landmark asset in
St. Louis. It will clearly continue to
thrive and transform under Bucksbaum’s leadership.”
“The lending team at Ladder
Capital performed flawlessly and really stepped up to support the acquisition
process,” Bucaro added.
For a complete copy of the company’s news release,
please contact:
Kristen Murphy
Director, Public Relations
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | cell
617.543.4873 | www.hfflp.com
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