CHICAGO—Last month, GlobeSt.com reported that the Canadian investor Adventus had recently purchased Cantera Meadows, a 203,842-square-foot, class A office property in west suburban Warrenville, for more than $28 million, becoming one of the many Canadian groups snapping up office property in the metro area. And HFF just revealed that it arranged $19.8 million in financing to purchase the property.
HFF worked on behalf of Adventus Realty Services, Inc., a trustee for Adventus Realty Trust, to secure the 10-year, 4.98%, fixed-rate loan with JPMorgan Chase Bank, National Association. HFF will service the securitized loan.
Cantera Meadows sits on an 11.8-acre site at 28100 Torch Parkway along the north side of I-88 at the Winfield Rd. interchange and within the Cantera master-planned development. Completed in 1997 and renovated in 2011, the eight-story property features a full-service cafeteria, fitness center, multiple conference facilities and parking for 810 vehicles. Tenants occupy 92% of the property and include EN Engineering, LLC, Patterson Medical Supply, Inc. and Symbria, Inc.
The HFF debt placement team was led by managing director Christopher Carroll.
Adventus Realty Trust is a private REIT formed in early 2012 and based in Vancouver. The trust focuses on US income producing commercial real estate, primarily in the suburban office market of Chicago.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
