NOVEMBER 30, 2017
Balfour Pacific Acquires Office Buildings in Chicago Suburb
Balfour Pacific Capital Inc. (“Balfour Pacific”) is pleased to announce the acquisition by Balfour Pacific Real Estate IV, LP, in partnership with Hamilton Partners, of 500 Park and One Pierce Place. The two buildings are located in the Hamilton Lake Business Park in Itasca, Illinois. The buildings comprise almost one million SF and are over 90% leased. Balfour Pacific plans to renovate the buildings and offer best-in class amenities.
“Balfour is very pleased with the acquisition and the partnership with Hamilton Partners,” said Mark Scott, Managing Partner at Balfour Pacific. “We are thrilled with the opportunity to acquire these high quality, well-leased assets at an attractive price and look forward to implementing our upgrade and modernization plan to make the buildings the best in the Itasca market.”
“We are very excited about the partnership with Balfour Pacific and the opportunity to continue to lease and manage these two buildings,” said Patrick McKillen, Partner at Hamilton Partners.
This purchase comes just two weeks after the completion of Illinois Route 390, which will give Hamilton Lakes tenants quick access around the Chicagoland area and eventually, O’Hare airport.
For more information on this transaction, visit the Recent News section of the Hamilton Partners website (link).
About Balfour Pacific: Balfour Pacific is a Vancouver-based private equity real estate firm focused on value-added investments in the United States. Should you wish to learn more about Balfour Pacific or this transaction, please visit our website, www.balfourpacific.com.