HFF announces sale and financing of Central Park of Lisle I and II in suburban Chicago
CHICAGO, IL – January 11, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announced the sale and financing of Central Park of Lisle I and II, a two-building, Class A office property totaling 693,546 square feet in the suburban Chicago community of Lisle, Illinois.
The HFF team marketed the property on behalf of the seller, and procured the buyer, a joint-venture between GFH Financial Group B.S.C., Lincoln Property Company and Crestlight Capital. Additionally, HFF worked on behalf of the buyer to secure financing through Citigroup.
Central Park of Lisle I and II are situated at 4225 Naperville Road and 3333 Warrenville Road at the Interstate 88 and Naperville Road interchange in Chicago’s East-West submarket. The properties are a 10-minute drive from both the Naperville Metra and Lisle Metra commuter stations and close to the amenities of Freedom Commons, Danada Square East and West, downtown Naperville and downtown Lisle. Central Park of Lisle I and II are approximately 25 miles southwest of O’Hare International Airport and 30 miles northwest of Chicago Midway International Airport. Completed in 1991, Central Park of Lisle I is a seven-story building with 381,634 square feet. Central Park of Lisle II was built in 2001 and features eight stories of office space totaling 311,912 square feet. Combined, the properties are 86 percent leased to primarily credit tenants, including Armour-Eckrich Meats LLC, CA Technologies, Millward Brown (Kantar), EMC Corporation and Kone. The fully amenitized properties offer tenants an on-site athletic club, child care, cafeteria, conference facility and executive parking. The transaction included the 7.5-acre development parcel to the east of the site fronting Interstate 88.
The HFF investment advisory team representing the seller included directors Bryan Rosenberg and Patrick Shields and senior managing directors Jaime Fink, Jeff Bramson and Mark Katz.
HFF’s debt placement team representing the borrower included senior managing director Eric Tupler and senior director Trent Niederberger.
About GFH Financial Group B.S.C.
GFH Financial Group B.S. C. (GFH) is one of the most recognized financial groups in the Gulf region. Its businesses include Asset Management, Wealth Management, Commercial Banking and Real Estate Development. The Group’s operations are focused in the GCC, North Africa and India. GFH is listed in Bahrain Bourse, Kuwait Stock Exchange and Dubai Financial Market with a market cap of an estimated US$2bn and assets under management of approximately US$5bn.
GFH’s U.S. Real Estate Assets include: a residential Portfolio in Houston and Atlanta that includes approximately 1,300 Units and valued over an estimated US$87mm; a National industrial portfolio which includes approximately 30 assets and valued over US$190mm; a data center portfolio of 2 assets and valued estimated US$100mm. For more information, please visit gfh.com.
About Lincoln Property Company
Founded in Dallas, Texas, in 1965, LPC is a full-service, vertically integrated institutional investment and property services platform with offices in the United States and Europe. Since 1965, Lincoln has acquired and developed approximately $35 billion of residential and commercial property. LPC currently manages 356 million square feet of commercial property and 147,000 multifamily residential units for over 100 separate clients worldwide. For more information, please visit lpcmidwest.com.
About Crestlight Capital
Crestlight Capital is a private Real Estate investment firm focused on office investments within the eastern half of the United States, particularly high growth secondary and suburban markets in proximity to innovation and education hubs. Leadership at Crestlight has experience managing $6 billion of office product over the past 4 years and was formed to focus exclusively on investing with various institutional and high net worth joint venture partners. For more information, please visit crestlightcapital.com.
HFF and its affiliates operate out of 25 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 advisory, 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.