June 14, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a construction loan for the development of a 20-story, trophy office tower at 625 West Adams Street in Chicago’s West Loop.
HFF worked on behalf of the borrower, a partnership comprising USAA Real Estate Company and a joint venture between White Oak Realty Partners, LLC and Vanderbilt Investment Properties, an affiliate of CA Ventures. The construction loan was provided by Bank of the Ozarks.
Designed by internationally renowned architect Martin Wolf, FAIA, 625 West Adams will feature 438,837 square feet of office space and a 408-space parking facility. The project will have average floor plates of 31,500 rentable square feet, unobstructed 360 degree views of the city, open floor plans and an expansive 25’ high lobby with floor-to-ceiling glass. The LEED certified building will offer tenants an outdoor terrace on the 7th and top floor, fitness center with outdoor terrace access, seventh floor restrooms with shower stalls and changing areas, 2,500 rentable square feet of ground floor retail and a location directly across from a public park, a scarcity in downtown. 625 West Adams is situated in the heart of Chicago’s West Loop one block east of Chicago’s main highway, Interstate 90 and a few blocks west of both Union Station and Ogilvie Transportation Center providing commuter train access to the greater Chicago area.
The HFF debt placement team representing the borrower was led by managing director Christopher Carroll and senior managing director Trey Morsbach.
“We are very excited to be moving forward with the development of 625 West Adams,” said Casey Wold of Vanderbilt Partners. “A terrific execution of the construction financing was critical to our timing and icing on the cake for a first-class, new office building in the West Loop of Chicago.”
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