HFF secures $125 million financing for 44-story residential tower in Chicago
CHICAGO, IL – January 18, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $125 million in financing for Eugenie Terrace, a 44-story, 575-unit residential tower in Chicago’s Lincoln Park neighborhood.
Working on behalf of Eugenie Terrace Associates, LLC, HFF placed the 10-year, fixed-rate loan with an international life insurance company. This loan replaces existing fixed-rate financing that HFF secured on the borrower’s behalf in 2007.
Eugenie Terrace is situated at 1730 North Clark Street adjacent to Chicago’s 1,200-acre Lincoln Park. The property’s 575 luxury rental apartments feature sweeping views of Chicago’s skyline and lakefront, with attractions such as the Lakefront Trail, Lincoln Park Zoo and Chicago History Museum immediately outside the front door. Additionally, Eugenie Terrace offers unmatched access to public transportation and abundant retail, dining and recreation options. The Class A property, which was originally built in 1988, has been maintained to the highest institutional standards with renovations/upgrades completed on a virtually continuous basis.
Residents of Eugenie Terrace have access to a 316-stall parking garage with valet and self-parking privileges. Additional amenities include a 24-hour door attendant, full-service concierge, rooftop swimming pool and sundeck, open-air grilling deck, fitness center, business center, coffee bar, multiple entertainment areas and onsite Zipcar rentals.
The HFF debt placement team representing the borrower was led by managing director Matthew Schoenfeldt and senior managing director Mike Kavanau.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.