HFF announces sale and financing of 21-building industrial portfolio in the Chicago MSA
CHICAGO, IL – October 9, 2017 – 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.
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.
About CenterPoint Properties
CenterPoint Properties is focused on the development, acquisition and management of industrial property and transportation infrastructure that enhances business and government supply chain efficiency. The company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes. CenterPoint‘s portfolio includes 59 million square feet and 2,519 acres under development in the company’s integrated intermodal industrial parks. For more information on CenterPoint Properties, visit centerpoint.com or follow @centerpointprop on Twitter.
About Westmount Realty Capital, LLC
Westmount Realty Capital, LLC is a time-tested, privately held, Dallas-based commercial real estate company that has achieved exceptional performance, with a core team in place, for more than 30 years. Westmount is seen as an innovator and leading edge company in the industry and is a trusted operating partner of numerous U.S. and foreign institutional and private capital sources. The company is active nationally, specializing in value add and opportunistic investments, and has navigated successfully through multiple market cycles. For additional information, contact westmountrc.com.
About Partners Group
Partners Group is a global private markets investment management firm with over EUR 57 billion (USD 66 billion) in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in Denver, Houston, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Milan, Munich, Dubai, Mumbai, Singapore, Manila, Shanghai, Seoul, Tokyo and Sydney. The firm employs over 1,000 people and is listed on the SIX Swiss Exchange (symbol: PGHN) with a major ownership by its partners and employees. Learn more at partnersgroup.com.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information please visit hfflp.com or follow HFF on Twitter @HFF.
KURT W. SARBAUGH
IL Lic. #475.123047
HFF Senior Director
ROBIN L. STOLBERG
HFF Senior Director
HFF Senior Managing Director & Managing Broker
JOHN D. MERRILL
HFF Senior Managing Director
HFF Managing Director
HFF Director, Public Relations