Finance N Illinois

HFF arranges $150M financing for MILA in Chicago

  

HFF arranged $150 million in financing for MILA, a 41-story, 402-unit luxury apartment tower along Chicago’s Michigan Avenue.

HFF worked on behalf of The John Buck Company, Becker Ventures and funds managed or advised by Partners Group to secure the loan through Quandrant Real Estate Advisors. The loan proceeds will refinance the original construction financing.

MILA is situated at the northwest corner of Michigan Avenue and Lake Street in central business district. It was designed by bKL Architecture and has 21,129 square feet of retail space which is leased to Starbucks, Roti Mediterranean Grill and Liberty Travel.

The building was completed in May 2016 and offers a rooftop relaxation pool and sundeck, garden with grilling stations, fire pits, outdoor TVs and a gameroom with a tech bar. The property also includes a fitness center, pet salon with outdoor dog run, concierge service and an enclosed parking garage.

HFF debt placement team representing the developer was led by managing director Danny Kaufman and director Jimmy Conley.