CHICAGO, IL – Holliday Fenoglio Fowler, L.P. (HFF) announces joint venture equity financing for the development of Logan’s Crossing, a 220-unit, luxury mid-rise apartment building in Chicago’s Logan Square neighborhood.
The HFF team arranged the joint venture equity partnership between the developer, Fifield Companies, and an institutional investor. The land seller, Terraco Real Estate, remains in the deal as a co-developer.
Logan’s Crossing is being developed on the site of the former Megamall at the southwest corner of North Milwaukee and North Sacramento Avenues. Due for completion in the fourth quarter of 2019, the property will total five and six stories of combined residential and retail space. The residential component will be situated above approximately 62,000 square feet of retail space anchored by a Neighborhood Target store.
Residential units will average 770 square feet and will feature luxury finishes, including granite countertops, stainless steel appliances, plank flooring and high-end bathrooms. Community amenities will include an outdoor sundeck with soaking pool and grilling areas, indoor resident lounge with large screen TV, party room with demonstration kitchen, fitness center and business center with conference room.
The HFF equity placement team representing Fifield Companies included managing director Danny Kaufman and analyst Mary Dooley.
About Fifield Companies: Founded in 1977 by Steven Fifield, the Fifield Companies (Fifield) is a Chicago-based real estate development firm focused on luxury urban high-rise residences and office towers. The Fifield team has developed 70 buildings comprising more than 15 million square feet. In its history, Fifield has earned a reputation for creating exciting living environments in some of the country’s most renowned locations, in addition to garnering multiple architectural and design awards, including Developer of the Year for Midwest and Chicago.
About HFF: HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.