HFF secures acquisition loan for 5-property Chicago-area industrial portfolio
CHICAGO, IL – July 25, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured acquisition financing for a five-property, fully-occupied industrial portfolio totaling 1.41 million square feet in the Chicago area.
HFF worked on behalf of the borrower, Transwestern Investment Group, to place the five-year, fixed-rate loan with a life company. The portfolio was acquired by TSP Value and Income Fund, Transwestern Investment Group’s discretionary value-add vehicle.
The portfolio properties are: 3800 Sunset Avenue in Waukegan; 301-363 North Third Avenue in Des Plaines; 5300 Proviso Drive in Melrose Park; 7400 Richards Road in Bridgeview and 5100 West 123rd Street in Alsip. The properties have clear heights ranging from 21’ to 30’ and all have some percentage of office finish. The portfolio is home to eight tenants, including Dulin Metals Co; Permasteelisa North America; Midland Paper Company; Keystone Automotive Industries and Cornfields, Inc. The properties are located just off major thoroughfares, including Interstates 294 and 94, providing access to the greater Chicago area, the Midwest and beyond.
The HFF debt placement team representing the borrower was led by managing director Christopher Carroll and senior managing director Brian Carlton.
About Transwestern Investment Group
Transwestern Investment Group is an investment advisor serving a broad range of investors through a diversified array of discretionary and non-discretionary investment vehicles. The firm’s client-focused, relationship driven approach ensures its priorities are its clients' investment objectives. Trust, integrity and transparency are the cornerstones of its business. Transwestern Investment Group provides tactical investment management with an integrated operating platform through the Transwestern family of companies, which includes a diversified real estate services firm with 34 U.S. offices and a development company. For more information, please visit http://www.transwesterninvest.com.
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.