HFF has arranged financing for The Roosevelt Collection, a mixed-use development in Chicago.
HFF worked on behalf of the borrower, a joint venture between McCaffery Interests Inc. and Canyon Johnson Urban Funds, to secure the senior loan through Prime Finance.
The Roosevelt Collection is located at 150 W. Roosevelt in Chicago’s South Loop neighborhood. Completed in 2009, the mixed-use property consists of nearly 400,000 square feet of retail space, 342 multi-housing units and a 1,500 stall parking garage in addition to development rights for three additional residential towers totaling 1,158 units. The multi-housing portion of the property is currently 95.6 percent leased. The retail portion of the property is currently leased to Kerasotes Show Place ICON Theater and is undergoing leasing development. Active negotiations are underway with several other retailers and restaurant operators to complete retail leasing for the project.
The HFF team representing the borrower was led by Senior Managing Director Mike Kavanau and Managing Director Steve Skok.