HFF Arranges $77 Million Refinancing of Two Retail Properties on Magnificent Mile

Chicago — HFF has arranged the $77 million refinancing of 545 and 555 North Michigan, two free-standing, adjacent retail properties totaling 61,909 square feet along Chicago’s Magnificent Mile.

Christopher Knight and Timothy Joyce of HFF arranged the 10-year, fixed-rate loan through a fund managed by Apollo Global Management on behalf of the borrower, ECA Capital. Constructed in 1998, the 45,904-square-foot 555 North Michigan is home to The Gap’s Chicago flagship. The 16,005-square-foot, five-story 545 North Michigan was constructed in 1928 and is home to Ugg.