$265 Million Financing Arranged by HFF for a 1.8 Million-Square-Foot Mixed-Use Property in Chicago.

CHICAGO -- The Chicago and New York offices of HFF (Holliday Fenoglio Fowler, L.P.) have arranged $265 million in financing for 600 West Chicago, a 1.8 million-square-foot mixed-use property in Chicago.

Working on behalf of 600 West Chicago Associates LLC, HFF senior managing director Mike Kavanau and managing director Evan Pariser placed a 10-year, fixed-rate, interest-only loan with LaSalle Bank. The securitized loan, which will be serviced by HFF, was used to acquire the property. HFF arranged a $180 million refinancing for the property in 2005 for the prior owners.

Completely redeveloped in 2001, 600 West Chicago was originally built in 1908 as the distribution center for the Montgomery Ward catalogue division, and has been designated as a Chicago Landmark Building and is listed on the National Register. The property is 80% leased to office and retail tenants including Banker's Life, Wrigley, Fox, Verizon, Level 3, Japonais Restaurant and David Barton Gym. Parking is available in two garages and two levels in the building that together total 1,270 spaces. Located within Kingsbury Park along the Chicago River, 600 West Chicago is close to Interstates 90 and 94, and has direct shuttle bus service to commuter train stations and nearby El stops.

HFF (NYSE:HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital market 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 sale and note sales advisory services and commercial loan servicing.