HFF Announces $181.57M Construction Financing for Development of Class A Office Tower in Chicago’s Fulton Market District
April 26 2018 - 3:17PM
Business Wire
Holliday Fenoglio Fowler, L.P. (HFF) announces $181.57 million
in construction financing for the development of 333 North Green
Street, a to-be-built, 548,932-square-foot, Class A office tower in
the Fulton Market District of Chicago’s central business
district.
The HFF team worked on behalf of the developer, Sterling Bay and
institutional investors advised by J.P. Morgan Asset Management, to
secure the floating-rate construction loan through Wells Fargo.
333 North Green Street will be a 19-story, Class A office tower
with floor plates ranging from 13,634 square feet to 40,589 square
feet, situated above 31,521 square feet of street level retail.
Additionally, the best-in-class project will feature a 326-stall,
four-floor parking garage on floors two through five of the
property and market-leading amenities, including a
2,700-square-foot fitness center, 2,000-square-foot conference area
and a 5,590-square-foot tenant lounge along with a private rooftop
deck for tenant use. The LEED Silver certified building is 47.2
percent leased to GroupM and will serve as their North American
headquarters as well as the regional headquarters for WPP, their
parent company. 333 North Green Street is located in the Fulton
Market District, which has become the city’s premier office
submarket and a true live/work/play environment with numerous
multifamily units and hotel keys under construction and access to
many of Chicago’s popular and award-winning restaurants along
Restaurant Row. The property benefits from a Walk Score® of 97 and
a Transit Score® of 89 being situated just five blocks from both
the Morgan Street and Grand Avenue “L” stations and a short
distance from Ogilvie Station that provides commuter rail
access.
HFF’s debt placement team included managing directors Timothy
Joyce and Danny Kaufman and director Christopher Knight.
About Sterling Bay
Sterling Bay is a market leading real estate investment and
development firm with expertise across the full spectrum of design,
construction, leasing, asset management and hospitality. Sterling
Bay's portfolio consists of over 10 million square feet and
features award-winning adaptive reuse and build-to-suit headquarter
projects for corporations like Google, Gogo, Uber and McDonald's
Corporation. With a current pipeline of over $10
billion in development and a commitment to engaging
communities, the firm is one of the fastest growing and
well-respected organizations in real estate. For more information
please visit www.sterlingbay.com.
About J.P. Morgan Global
Alternatives
J.P. Morgan Global Alternatives is the alternative investment
arm of J.P. Morgan Asset Management. With more than $130 billion in
assets under management and over 800 professionals (as of December
31, 2017), we offer strategies across the alternative investment
spectrum including real estate, private equity and credit,
infrastructure, transportation, liquid alternatives, and hedge
funds. Operating from 23 offices throughout the Americas, Europe
and Asia Pacific, our independent alternative investment engines
combine specialist knowledge and singular focus with the global
reach, vast resources and powerful infrastructure of J.P. Morgan to
help meet each client’s specific objectives. For more information:
www.jpmorganassetmanagement.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/20180426006214/en/
HFFTimothy Joyce, (312) 528-3650HFF Managing
Directortjoyce@hfflp.comorKristen Murphy, (617) 848-1572HFF
Director, Public Relationskrmurphy@hfflp.com
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