Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
HFF Arranges Debt for Wrigley Building Deal
HFF has arranged $150 million in financing for Joe Mansueto’s Mansueto Properties toward its acquisition of the Wrigley Building, which became a done deal just before the July 4 holiday. Mansueto Properties did not disclose financial terms of its acquisition of the iconic two-tower property from a consortium led by BDT Capital Partners; published reports put it at $255 million.
Managing Director Stephen Skok of HFF worked on Mansueto Properties’ behalf to secure the 30-year, fixed-rate acquisition financing through a major life insurance company. “The Wrigley Building is an iconic symbol of Chicago, which will serve as a long-term, generational real estate investment for Mansueto Properties,” Skok said.
Mansueto, who once again made headlines this week by taking a 49% stake in the Chicago Fire soccer franchise, commented, “We are committed to preserving the legacy of this building, and ensuring that it remains a vital part of Chicago’s growth well into the future.”
Get Chicago News in 150 WordsFor comments, questions or concerns, please contact Paul Bubny
- ◦Financing
