CHICAGO–HFF has arranged financing for The Roosevelt Collection, a mixed-use development in Chicago. The HFF team representing the borrower was led by Senior Managing Director Mike Kavanau and Managing Director Steve Skok.
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 West Roosevelt in Chicago’s South Loop neighborhood. Completed in 2009, the mixed-use property consists of nearly 400,000 sq. ft. of retail space, 342 multihousing units and a 1,500-stall parking garage in addition to development rights for three additional residential towers totaling 1,158 units.
The multihousing 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.