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Chicago & Midwest  + Midwest  + Office  |  March 27, 2019
Paul Bubny
By: Paul Bubny

North Wells Secures Capital to Complete HUB640 Project

North Wells Capital and its operating affiliate Urban Innovations have closed a new loan facility for $26,590,000 for HUB640 in Milwaukee’s Westown neighborhood. The new facility replaces the existing senior loan, and provides capital to complete the redevelopment of the 120-year-old property as well as re-tenanting costs.

Financing was provided by A10 Capital. North Wells, which acquired HUB640 in May 2017, was represented by Meridian Capital Group in the transaction.

“The partnership with A10 Capital, our lender, is significant on our growth trajectory as it represents tangible buy-in from outside capital into our vision and mission,” said North Wells’ Tony Lindsay.  “At a time when leasing momentum is building, it’s encouraging to know that we have the capital to complete the revitalization of the base building systems, and to secure and build-out the new tenant spaces in the building.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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