Thursday, December 13, 2012

HFF arranges acquisition financing for 230 West Monroe in Chicago, IL


230 West Monroe, Chicago, IL
CHICAGO, IL – HFF announced  it has arranged financing for 230 West Monroe, a 623,524-square-foot office building in Chicago.

HFF worked exclusively on behalf of the borrower, a joint venture comprised of Lincoln Property Company and an investment fund, to secure the adjustable-rate acquisition loan through a national bank.  Loan proceeds were used to acquire the property.  HFF was also involved in the sale of the property.

Kevin MacKenzie
230 West Monroe is located in Chicago’s West Loop district at the intersection of South Franklin Street.  

Currently 89 percent occupied, the 29-story office tower is leased to tenants in the financial services, education, engineering, insurance, legal and real estate industries.  

Michael Kavanau
The property underwent lobby renovation, retail expansion and elevator modernization in 2003.

The HFF team representing the borrower was led by senior managing directors Kevin MacKenzie and Michael Kavanau and managing director Tim Joyce.  
Tim Joyce

Lincoln Property Company is one of the nation’s largest private diversified real estate service firms in the United States.  

It currently has more than $30 billion in assets under management including 144,000 residential units and 130 million square feet of commercial space.  Lincoln’s Chicago commercial region’s leasing and management portfolio totals more than eight million square feet. 
  
For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |

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