High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
Chicago & Midwest  + Downtown  + Finance  | 

Waterton’s Lakeshore East Tower Lands $171M Debt

HFF has arranged $171.2 million in financing for North Harbor Tower, a 600-unit, high-rise apartment building in Chicago’s Lakeshore East neighborhood. The borrower, locally based Waterton, acquired the property from Crescent Heights last year.

An HFF debt placement team of Stephen Skok, Stella Pappas and Gregory Napper worked on behalf of Waterton to secure the seven-year, fixed-rate loan through Freddie Mac’s Green Advantage program. The loan will be serviced by HFF.

North Harbor Tower is located at 175 N. Harbor Dr., immediately adjacent to a mix of residential living, a Mariano’s Fresh Market and the six-acre Lakeshore East Park. Originally constructed in 1988, the 55-story tower includes 96 studio, 72 convertible, 234 one-bedroom, 108 two-bedroom and 90 three-bedroom units.

The Connect Apartments Conference will take place June 20, 2019 in Los Angeles. For more information, or to register, click here.


Subscribe to Connect Daily Chicago

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With HFF’s Skok, Pappas and NapperConnect With Waterton

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).

  • ◦Financing
New call-to-action
New call-to-action
New call-to-action