HFF arranges loan for Chicago CBD Class A+ office building

The Boston and Chicago offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged financing for 550 West Washington, a Class A+ office building located in Chicago’s West Loop.

HFF director Tim Joyce and senior managing directors Mike Kavanau and Fred Wittmann (Boston) led the debt placement team that secured $72.1 million for an affiliate of Beacon Capital Partners, LLC. The 5.84%, five-year fixed-rate loan was provided by Landesbank Hessen-Thuringen Girozentrale (Helaba). Based in Boston, Beacon Capital Partners sponsors real estate investment funds that focus on office property investments in a select number of target markets throughout the United States and Western Europe.

550 West Washington is 97.5% leased to investment grade tenants. The 371,415-square-foot, 16-story property is located in the west loop submarket of Chicago’s CBD.

“550 West Washington generated huge interest from the lender community given the superior sponsorship and strong tenancy,” said Joyce.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.