HFF closes sale and $33M financing for Lakes of Schaumburg in northwest Chicago suburb

CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of and arranged financing for The Lakes of Schaumburg, (top left photo)  a 428-unit multi-housing community in Schaumburg, Illinois.

The HFF investment sales team was led by managing directors Marty O’Connell (top right photo)  and Sean Fogarty (top left photo)  and executive managing director Matthew Lawton (middle right photo) who represented the seller, Cornerstone Real Estate Advisers LLC.

 A joint venture between Marquette Real Estate Investments and TRECAP Partners, LLC purchased the property free and clear of debt.

HFF managing director Matthew Schoenfeldt (middle left photo)  worked on behalf of Marquette and TRECAP to secure the $33 million, fixed-rate acquisition loan through Freddie Mac (Federal Home Loan Mortgage Corporation).

HFF will service the securitized loan through its Freddie Mac Program Plus® Seller/Servicer program.

Located at 801 Belinder Lane in Schaumburg, The Lakes of Schaumburg is near Interstates 90 and 290, O’Hare International Airport and two Metra commuter rail lines.

The property has one- and two-bedroom units averaging 800 square feet each and the current occupancy is more than 95%.

Community amenities include two clubhouses offering a business center, coffee/tea bar, fitness center and weight room as well as two outdoor heated swimming pools, two sand playgrounds and a jogging/bike trail.

“The Lakes of Schaumburg benefits from the impeccable maintenance standards that 20 years of institutional ownership delivers.

"Now, under the seasoned and entrepreneurial stewardship of Marquette, the property is poised to take advantage of a strengthening market for high-quality multi-housing product,” said Schoenfeldt.

Contacts:

Martin F. O'Connell, HFF Managing Director, (312) 528-3650, moconnell@hfflp.com
Matthew R. Schoenfeldt, HFF Managing Director, (312) 528-3650,
mschoenfeldt@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,
krmurphy@hfflp.com


HFF secures $39M financing for Huebner Oaks in northwest San Antonio, TX

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured $39 million in financing for Huebner Oaks (lower right photo), a 287,000-square-foot, nine-building retail power center in northwest San Antonio, Texas.

Working on behalf of Inland Western REIT, HFF managing director Kevin MacKenzie (lower left photo) placed the five-year, fixed-rate loan with Nationwide Life Insurance Company.

Huebner Oaks is situated on nearly 30 acres at 11745 Interstate 10 West, close to the Interstate 410 Loop that surrounds San Antonio.

The property is 95% leased to tenants including Bed Bath & Beyond, Borders, Ross Dress for Less, Old Navy, Starbucks, The Gap, Banana Republic and Macaroni Grill.

“Huebner Oaks has performed very well historically; consistently experiencing occupancy above 95% with tenants enjoying high sales and low occupancy costs.

"This performance has created strong incentives for existing tenants to renew leases at the property in addition to attracting new tenants,” said MacKenzie.

Inland Western Retail Real Estate Trust, Inc. is a self-managed real estate investment trust that acquires, manages and develops a diversified portfolio of real estate, primarily multi-tenant shopping centers across the United States.

As of June 30, 2010, the portfolio under management totaled in excess of 46 million square feet, consisting of 294 consolidated operating properties.

The company also has interests in 11 unconsolidated operating properties and 8 properties under development. For further information, please see the company website at www.inlandwestern.com.

Contacts:

Kevin C. MacKenzie, HFF Managing Director, (214) 265-0880, kmackenzie@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,
krmurphy@hfflp.com