Grandbridge Real Estate Capital, from its Milwaukee office, recently originated and closed debt and equity financing for the acquisition of two adjacent office buildings in the Chicago suburb of St. Charles, Ill.
Grandbridge worked with an affiliate fund of Chicago-based Adams LaSalle Realty to close the deal.
Grandbridge senior vice president Jim Cope and vice president Justin Nelson arranged the financing through one of Grandbridge’s insurance company correspondents. The financing is secured by the St. Charles Executive Park Office Center.
Built in 2001, the two office buidings have a total of 74,274 square feet. Adams LaSalle Realty acquired the distressed properties, which are about 50 percent occupied.
