MINNEAPOLIS – Värde Partners, the global alternative investment firm, today announced the closing of a $77.7 million loan for Triangle Plaza, a 636,000 square foot, Class A office complex located in Chicago, Illinois.
The loan provides financing for the leasehold acquisition of Triangle Plaza. The Class A office towers are located in Chicago’s O’Hare submarket and benefit from proximity to mass transit and a strong rent roll highlighted by numerous investment grade tenants.
“Värde has a long history of originating loans and looks to provide flexible capital in the commercial mortgage space,” said Jim Dunbar, Senior Managing Director at Värde. “We believe this property is attractive given its transit-oriented location, best-in-class amenities, outstanding tenancy and strong sponsorship profile.”
The debt was arranged by John Parrett and Steve Roth of CBRE Chicago.
Värde has more than 20 years of experience investing across a range of mortgage assets. Earlier this year, the firm closed Värde Mortgage Fund II with $750 million in committed capital to invest in both commercial and residential mortgage opportunities.
About Värde Partners
Värde Partners is a $14 billion global alternative investment firm that employs a value-based approach to investing across a broad array of geographies, segments and asset types, including corporate credit, specialty finance, real estate, mortgages, energy, real assets and infrastructure. The firm sponsors and manages a family of private investment funds with a global investor base that includes foundations and endowments, pension plans, insurance companies, other institutional investors and private clients. Now in its third decade, Värde employs more than 300 people globally with regional headquarters in Minneapolis, London and Singapore.
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