CHICAGO—Last month, GlobeSt.com reported that the Canadian investor Adventus had recently purchased Cantera Meadows, a 203,842-square-foot, class A office property in west suburban Warrenville, for more than $28 million, becoming one of the many Canadian groups snapping up office property in the metro area. And HFF just revealed that it arranged $19.8 million in financing to purchase the property.
HFF worked on behalf of Adventus Realty Services, Inc., a trustee for Adventus Realty Trust, to secure the 10-year, 4.98%, fixed-rate loan with JPMorgan Chase Bank, National Association. HFF will service the securitized loan.
Cantera Meadows sits on an 11.8-acre site at 28100 Torch Parkway along the north side of I-88 at the Winfield Rd. interchange and within the Cantera master-planned development. Completed in 1997 and renovated in 2011, the eight-story property features a full-service cafeteria, fitness center, multiple conference facilities and parking for 810 vehicles. Tenants occupy 92% of the property and include EN Engineering, LLC, Patterson Medical Supply, Inc. and Symbria, Inc.
The HFF debt placement team was led by managing director Christopher Carroll.
Adventus Realty Trust is a private REIT formed in early 2012 and based in Vancouver. The trust focuses on US income producing commercial real estate, primarily in the suburban office market of Chicago.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
