Monday, April 24, 2017

HFF arranges $24 million financing for 43-unit luxury apartment community in Chicago’s River North

Daniel Kaufman
CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $24 million in financing for The Hensley, a 43-unit luxury apartment community in Chicago’s River North neighborhood.

Working on behalf of the borrower, Akara Partners, HFF placed the three-year, floating-rate loan with Heitman LLC.  The loan refinanced existing construction financing on the property.

Completed in 2016, The Hensley is located at 707 North Wells Street in the vibrant River North neighborhood of downtown Chicago.  The 11-story boutique property is 100 percent leased and has a mix of one-, two- and three-bedroom floor plans averaging 1,053 square feet each.

  The Hensley also has 5,892 square feet of ground-floor retail, which is fully leased to GT Prime, a new restaurant from the Boka Restaurant Group.  

Apartment finishes include nine-foot ceilings, floor-to-ceiling windows, Samsung appliances, quartz countertops, spa-inspired shower fixtures, custom closets, vinyl plank flooring, Nest thermostats and expansive private terraces.  The community features a fitness center and a 12th floor roof deck with a fire pit, kitchen, grilling stations and lounge seating.

Stephen Skok

The HFF debt placement team representing the developer was led by managing directors Danny Kaufman and Stephen Skok. 

“It was an absolute pleasure to work with the team at Heitman,” Kaufman said.  “They were very responsive to the impressive project that Akara delivered.” 

“New unit absorption is continuing at a rapid pace in the River North residential market,” Skok added.  “It is a sign of downtown Chicago’s appeal and a result of new job creation in the city.”

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 |

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