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| Century Center One and Two, Schaumburg, IL |
CHICAGO, IL – HFF announced it has closed the sale of and
arranged financing for Two Century Centre, a 221,177-square-foot, Class
A office property in Schaumburg, Illinois, a northeastern suburb of
Chicago.
 |
| Jeff Bramson |
Centennial Center, a 266,884square-foot, Class A
office building adjacent to Two Century Centre was also included in the
financing portion of the transaction.
HFF marketed Two Century Centre on behalf of Pearlmark Real
Estate Partners, LLC. Sovereign
Partners, LLC purchased the asset free and clear of existing debt.
HFF also brokered the sale of the adjacent One Century
Centre in a separate transaction.
 |
| Jaime Fink |
Additionally, HFF worked on behalf of the buyer, to secure a
$27 million, floating-rate acquisition loan for both Two Century Centre and
Centennial Center through RBS Citizens Bank.
The buildings are located at 1700 and 1900 Golf Road
on approximately 20.6 acres adjacent to the junction of Interstates 90 and 290,
approximately 25 miles northwest of Chicago’s central business district.
Renovated in 2004,
Two Century Centre is 88.6 occupied by tenants such as Colgate-Palmolive,
American Auto Guardian and Benefits Express.
Centennial Center was renovated most recently in 2012 and is leased to
tenants such as United Healthcare, Crawford & Co. and MetLife.
 |
| Mark Katz |
HFF’s investment sales team was led by senior managing
directors Jeff Bramson and Jaime Fink and managing director
Mark Katz.
The
HFF debt placement team representing the borrower was led by managing directors
Matthew Schoenfeldt and Christopher Carroll and senior managing
director Mike Kavanau.
Chicago-based Pearlmark Real Estate Partners is a private
equity real estate investment firm that pursues domestic, value-added
strategies through a series of institutional investment vehicles.
 |
| Matthew Schoenfeldt |
Since its inception in 1996, the firm has made more than 500
office, industrial, retail, multifamily, and mezzanine loan investments
nationwide, representing a gross investment of more than $12 billion.
Pearlmark and its partners, including insurance companies,
public and private pension funds, foundations and endowments, banks,
corporations, and high net worth individuals and families, have committed nearly
$4 billion of equity capital to the firm’s investment activities.
 |
| Mike Kavanau |
The company currently employs approximately 40 professionals
and is headquartered in Chicago with offices in Denver and New York City.
For more information, please visit www.pearlmarkrealestate.com.
Sovereign Partners, LLC is a privately-held real estate
investment organization that specializes in the acquisition of quality assets
throughout the United States.
Sovereign’s real estate team draws on a deep knowledge of
real estate fundamentals and capital markets to acquire properties throughout
the country.
 |
| Christopher Carroll |
With interests in
more than six million square feet of property, Sovereign Partners has
demonstrated its ability to identify and finance promising opportunities.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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