HFF Announces Sale and Financing of Optima Chicago Center
April 17 2018 - 3:23PM
Business Wire
Holliday Fenoglio Fowler, L.P. (HFF) announces the sale and
acquisition financing of Optima Chicago Center, a 325-unit,
high-rise apartment community in Chicago’s Streeterville
neighborhood.
The HFF team marketed the property on behalf of the seller, a
partnership comprising Optima, Inc., DeBartolo Development LLC and
OPTrust, and procured the buyer. Additionally, the HFF team worked
on behalf of the new owner to secure financing through Pacific Life
Insurance Company.
Optima Chicago Center is located at 200 East Illinois Street one
block east of Michigan Avenue and just a few blocks from the
Chicago Riverwalk, lakefront beaches and Navy Pier. Constructed in
2013, the 42-story property was designed by the renowned David C.
Hovey, FAIA and features a mix of 323 one-, two- and three-bedroom
units along with two penthouses totaling 328,451 rentable square
feet. The property also encompasses a 233-space structured parking
garage and 20,644 square feet of commercial space fronting North
St. Clair and Upper Illinois Streets. In addition to condo-quality
finishes, the property also offers residents access to a wide array
of amenities, including a green rooftop, rooftop hydro-therapy spa,
outdoor terrace with grilling stations, outdoor lounge with fire
pits, state-of-the-art fitness center, yoga studio, indoor swimming
pool, great room with lounge and coffee bar, recreation area with
billiards and ping pong, party/event space, pet wash station,
concierge services and skyline views.
The HFF investment advisory team included managing directors
Sean Fogarty and Marty O’Connell.
HFF’s debt placement team consisted of managing director Danny
Kaufman.
“Optima Chicago Center is a superb multi-housing property
situated in a tremendous Streeterville location just steps from
North Michigan Avenue and the new Apple Store as well as a short
walk from lakefront and Chicago River amenities,” Fogarty said.
About Optima
For over four decades, Optima has been developing, designing and
building some of the most striking urban and suburban luxury
residential communities in the United States. With locations across
Illinois and Arizona, Optima is committed to design, innovation and
sustainability. For more information, visit
http://www.optimaweb.com/.
About HFF
HFF and its affiliates operate out of 26 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180417006626/en/
HFFSEAN P. FOGARTY, 312-528-3650IL Lic.
#475.137841HFF Managing Directorsfogarty@hfflp.comorDANNY A.
KAUFMAN, 312-528-3650HFF Managing
Directordkaufman@hfflp.comorOLIVIA N. HENNESSEY,
713-852-3500HFF Public Relations Specialistohennessey@hfflp.com
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