Pressroom
Natixis Provides $34.7 Million Financing for Acquisition of Suburban Chicago Grocery-Anchored Retail Center
The $34.7 million financing from Natixis facilitated the acquisition of Northpoint Center, a 276,333 square foot, grocery-anchored retail center located in Arlington Heights, IL. The borrower is an institutional investor.
The property is anchored by a 68,237 square foot Jewel-Osco grocery store, a dominant grocer in the Chicago MSA. Jewel-Osco has been a tenant at the Property since 1991, recently renewed its lease and completed a renovation of its store. Other junior-anchor tenants at the property include Ross Dress for Less and Marshalls, which recently signed a new lease and will be moving from a neighboring center.
Loan proceeds will include an initial funding of $30.2MM with the remaining $4.5MM earmarked to fund future leasing.
The property is located at the corner of Rand Road and Arlington Heights Road, which have a combined average daily traffic count in excess of 50,000 vehicles per day.
The financing was arranged by Jeff Black from the Colliers International office in Boston, MA.
Contacts
About Natixis
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne, Natixis counts nearly 16,000 employees across 38 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE’s networks. Listed on the Paris stock exchange, Natixis has a solid financial base with a CET1 capital under Basel 3(1) of €11.2 billion, a Basel 3 CET1 Ratio(1) of 11.3% and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A+).
(1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in
Figures as at 31 December 2019.
