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| 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.
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| Rusty Tamlyn |
“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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