Holliday Fenoglio Fowler, L.P. (HFF) arranged a debt financing for a two-property data center portfolio totaling more than 194,000 square feet in the Chicago-area community of Wood Dale, Illinois. HFF worked on behalf of the borrower, a venture between Safanad, Industry Capital and Element Critical, to secure the three-year, floating-rate acquisition bridge loan.
Wood Dale 1 and 2 are located at 711 N. Edgewood Avenue and 341-361 Haynes Drive, close to O’Hare International Airport and approximately 24 miles northwest of Chicago’s central business district. Wood Dale 1 is a 150,000-square-foot building and Wood Dale 2 features 44,520 square feet.
The assets are positioned within the Chicago data center market, which is the third-largest in the country behind Northern Virginia and Dallas. Chicago provides a central geographic location, proximity to Fortune 500 company headquarters, cool weather, low cost of power, limited risk of natural disasters and critical fiber connectivity, all important factors for attracting data center activity.
The HFF debt placement team representing the borrower included senior directors Cullen Aderhold and Brian Torp, managing director Tim Joyce and executive managing director Kevin MacKenzie.