Saturday, October 14, 2017

HFF announces sale and financing of 21-building industrial portfolio in the Chicago MSA


Jaime Fink

CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and acquisition financing for a 21-building industrial portfolio totaling 2.3 million square feet in eight different submarkets of Chicago, Illinois.

The HFF team represented the seller, CenterPoint Properties. A joint venture between Westmount Realty Capital, LLC and Partners Group, a global private markets investment manager acting on behalf of its clients, purchased 21 of the properties in the portfolio.

 Additionally, working on behalf of the new owner, the HFF team placed the three-year, floating-rate loan with two one-year extension options with a banking and financial services corporation.  A private investor purchased a 22nd property.

The portfolio is 95.6 percent occupied by 24 tenants, including those in the automotive, food packaging, landscaping, consumer goods, fitness and electronics industries. The buildings, which were constructed between 1954 and 1998, range from 15,000 to 530,000 square feet with clear heights ranging from 12 to 30 feet. 

HFF’s investment sales team included senior directors Kurt Sarbaugh and Robin Stolberg along with executive managing director Matthew Lawton and senior managing directors John Merrill, Jeff Bramson, Jaime Fink and Rusty Tamlyn.

Rusty Tamlyn
HFF’s debt placement team representing the borrowers consisted of managing director Stephen Skok and director Christopher Knight.

“The sale of these assets is a strategic step to enhancing our company’s overall portfolio, which we continue to strengthen by investing in diverse, transportation-advantaged properties in coastal and inland port markets,” said Jim Clewlow, Chief Investment Officer at CenterPoint. “We thank HFF for their representation and efforts in this disposition.”

CenterPoint will retain more than 31 million square feet of industrial space in the greater Chicago market, and the company will continue to develop more than two million square feet of new space in Chicago each year.

 For more information on this press release, please contact:

 Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

 or follow @centerpointprop on Twitter.




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