Wrigley Building

July 13, 2018 Comments Off on HFF Arranges Debt for Wrigley Building Deal Views: 475 Chicago News, Downtown

HFF Arranges Debt for Wrigley Building Deal

HFF has arranged $150 million in financing for Joe Mansueto’s Mansueto Properties toward its acquisition of the Wrigley Building, which became a done deal just before the July 4 holiday. Mansueto Properties did not disclose financial terms of its acquisition of the iconic two-tower property from a consortium led by BDT Capital Partners; published reports put it at $255 million.

Managing Director Stephen Skok of HFF worked on Mansueto Properties’ behalf to secure the 30-year, fixed-rate acquisition financing through a major life insurance company. “The Wrigley Building is an iconic symbol of Chicago, which will serve as a long-term, generational real estate investment for Mansueto Properties,” Skok said.

Mansueto, who once again made headlines this week by taking a 49% stake in the Chicago Fire soccer franchise, commented, “We are committed to preserving the legacy of this building, and ensuring that it remains a vital part of Chicago’s growth well into the future.”

Read more at BusinessWire

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