This Week's Chicago Deal Sheet

Beacon Capital closed on its $468M acquisition of AMA Plaza yesterday, and it took a large amount of financing to swing the deal.

HFF, which marketed the property for Five Mile Capital Partners, worked on behalf of Beacon to secure $304M in acquisition financing through Goldman Sachs. The loan is a five-year, fixed-rate term. The HFF team repping the seller was led by Jaime Fink, Jeff Bramson, Mark Katz, Michael Kavanau, John Pelusi, Gerard Sansosti and Patrick Shields. HFF’s debt placement team was led by Christopher Carroll and Timothy Joyce.

SALES

HFF’s Brian Kelly and Michael Higgins repped the University of Chicago in the sale of an 11-property, 394-unit housing portfolio plus five land sites to Pioneer Acquisitions. The portfolio includes 520 beds and approximately 273k SF with residential units averaging 692 SF. This is the second deal between U of C and Pioneer. Last year, the university sold a 19-property, 676-unit multifamily portfolio and two land sites to Pioneer.

CBRE’s Zach Graham, Ryan Bain and Tom Harmon assisted DSP Acquisitions in the sale of a 206k SF industrial space at 6123-6227 Monroe Court in Morton Grove to 6227 Monroe Court.

Mid-America Real Estate completed the following transactions:

• Ben Wineman and Carly Gallagher, in cooperation with Mid-America Real Estate Group – Michigan’s Daniel Stern, repped both parties in the sale of Cascade Crossing in Sault St. Marie, MI. The 276k SF center was purchased by Versa Development.
• Joe Girardi and Carly Gallagher repped both parties in the $3.4M sale of Blackhawk Village, a 66k SF shopping center in Cedar Falls, IA. Mid-America marketed the asset on behalf of the seller, Rubenstein Real Estate.

Jameson Commercial’s Chris Irwin, Adam Napp and Mark Jones repped the seller in the $5M sale of 1400 West North Ave in Chicago to Key Development (pictured).

Inland Brokerage & Consulting’s Eric Spiess, Paul Montes and Paul Rogers repped the Roman Catholic Diocese of Joliet in the sale of five properties totaling 50 acres. The assets, part of a 30-property portfolio, include the former Roman Catholic Chancery & Tribunal complex in Joliet, and land parcels in Frankfort, University Park, Channahon and Romeoville.

Inland Real Estate Acquisitions’ Joe Cosenza facilitated the acquisition of 24 newly developed CVS Pharmacy properties, totaling 276k SF across 14 states, for a total purchase price of more than $116M on behalf of an Inland affiliate.

Quantum Real Estate Advisors’ Daniel Waszak repped the seller in the $1.4M sale of a multi-tenant, street-level retail property at 2-18 South Dunton Ave in Arlington Heights.

The Boulder Group’s Randy Goodman and Jimmy Blankstein repped the buyer in the $2.1M sale of a single-tenant, net-leased Perkins restaurant at 3005 Hwy 10 East in Moorhead, MN.

Baum Realty completed the following transactions:

• Patrick Forkin, Greg Dietz, Brad Teitelbaum and Danny Spitz repped the seller in the $4.5M sale of a multi-tenant retail center at 5224 North Northwest Hwy in Jefferson Park.
• Patrick Forkin, Greg Dietz, Brad Teitelbaum and Danny Spitz repped the seller in the $3.6M sale of a 7-Eleven store at 200 North Dearborn.

Focus Development acquired land from the City of Lake Forest for Kelmscott Park, a new maintenance-free community of condominiums, luxury single-family homes and apartments (rendering shown). Focus purchased the 11-acre site at Laurel and Western avenues in east Lake Forest in a JV with a fund managed by Castlelake, and financing from Wintrust Bank and Associated Bank.

FINANCING

ASC’s Igor Zhizhin secured $6.7M in acquisition financing for a seven-story, 30-unit multifamily portion of a mixed-use property in Chicago.

HIRES/PROMOTIONS

Pine Tree hired Nicole Geres and Jaclyn Swanson as senior property managers for the firm’s national shopping center portfolio. Nicole most recently worked for a prominent Chicago-based developer as a property manager for several Illinois shopping centers. Jaclyn comes to Pine Tree from Barshop & Oles, where she managed a 700k SF portfolio of grocery-anchored shopping centers in the Austin, TX, area.

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NAI Hiffman promoted John Whitehead to SVP. John joined NAI Hiffman in 2008, specializing in representing industrial property owners, tenants and buyers in the greater Chicago area.

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The Gettys Group promoted Christy Hubbard to design director. Christy spent the past 11 years serving as a senior project designer with the firm.

KUDOS

@properties won the Chicagoland Entrepreneurial Center’s 2016 Merrick Momentum Award. The awards were presented by CEC and digital startup hub 1871 at the 9th Annual Momentum Awards Dinner, held at the Radisson Blu Aqua Hotel on Oct. 6.