Office V Michigan

HFF secures refinancing for five-property office portfolio in Illinois, Michigan

The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) recently secured a $69-million refinancing for a five-property office portfolio totaling 1.08 million square feet in Schaumburg and Lisle, Ill., and Farmington Hills, Mich.

The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) recently secured a $69-million refinancing for a five-property office portfolio totaling 1.08 million square feet in Schaumburg and Lisle, Ill., and Farmington Hills, Mich.

HFF senior managing director Michael Kavanau, managing director Tim Joyce and senior real estate analyst Trent Niederberger worked on behalf of the borrower, an entity sponsored by Transwestern Investment Company, in arranging the loan through Prime Finance, a commercial real estate finance company with offices in San Francisco, Chicago and New York.

Loan proceeds will be used to refinance existing debt and provide for future tenant improvements and leasing commission costs.