HFF Arranges Financing for Transwestern Property Buy
The broker secured acquisition financing for a five-property industrial portfolio in metro Chicago.
By Ioana Neamt
Aerial view of 3800 Sunset Ave., Waukegan, Ill.
Chicago—HFF recently arranged acquisition financing for a Chicago-area industrial portfolio totaling 1.4 million square feet. An HFF debt placement team led by Managing Director Christopher Carroll and Senior Managing Director Brian Carlton represented the borrower—Transwestern Investment Group. The team placed the five-year, fixed-rate loan with an undisclosed life company. TSP Value and Income Fund, Transwestern’s discretionary value-add entity, acquired the fully occupied portfolio.
The properties included in the transaction are:
- 3800 Sunset Ave., in Waukegan;
- 301-363 N. Third Ave., in Des Plaines;
- 5300 Proviso Drive, in Melrose Park;
- 7400 Richards Road, in Bridgeview;
- 5100 W. 123rd, in Alsip.
The portfolio is occupied by eight tenants, including Dulin Metals Co., Permasteelisa North America, Midland Paper Co., Keystone Automotive Industries and Cornfields Inc. The assets offer easy access to the greater Chicago area, through their strategic location just off I-294 and I-94.
Image via Google Maps
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