CHICAGO, IL – HFF announced that it has secured a $21 million refinancing for Oswego Commons (top left photo), a 187,656-square-foot, grocery-anchored retail center in Oswego, Illinois.
Working on behalf of Inland Western Retail Real Estate Trust, Inc. (Inland Western) and a pension fund advised by Invesco Real Estate, HFF placed the fixed-rate loan with an affiliate of Hartford Investment Management Company.
Completed in 2002, Oswego Commons is 98.4 percent occupied by tenants, including Dominick’s grocery store, T.J.Maxx, OfficeMax and Petco. Additional tenants include Party City, Famous Footwear, Panera Bread and Hallmark. The property is situated on nearly 30 acres at 3020 West Route 34 in the southwest Chicago suburb of Oswego.The HFF team representing Inland Western was led by managing director Timothy Joyce (middle right photo) and senior managing director Kevin MacKenzie (lower left photo).
Inland Western is a fully-integrated, self-administered and self-managed real estate company that owns and operates high-quality, strategically located shopping centers and single-user retail properties. Inland Western is one of the largest owners and operators of shopping centers in the United States.
As of September 30, 2011, the firm’s retail operating portfolio consisted of 265 properties with approximately 34,835,000 square feet of gross leasable area (GLA), was geographically diversified across 35 states and includes power centers, community centers, neighborhood centers and lifestyle centers, as well as single-user retail properties.
Invesco was established in 1983 to provide real estate investment advisory services to U.S. institutional clients. Headquartered in Dallas, the firm presently manages approximately $43.7 billion in direct U.S., European and Asian real estate assets and publicly traded real estate securities.
Contacts:
TIMOTHY JOYCE KEVIN MACKENZIE
HFF Managing Director HFF Senior Managing Director
(312) 528-3650 (949) 253-8800
KRISTEN MURPHY
HFF Associate Director, Marketing
(713) 852-3500
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