NEW YORK, NY – The New York office of HFF (Holliday Fenoglio Fowler, L.P.) has secured a $25 million first mortgage financing for Rockaway 80, (top left photo) a 260,186-square-foot, Class A office building in Rockaway, New Jersey.HFF director Steven Klein (middle right photo) and senior managing director Michael Tepedino (bottom left photo) represented the borrower, an affiliate of Grosvenor Investment Management (GIM), in 
arranging the floating-rate loan through MassMutual. GIM is the North American fund management subsidiary of the London-based Grosvenor Group Ltd.
arranging the floating-rate loan through MassMutual. GIM is the North American fund management subsidiary of the London-based Grosvenor Group Ltd. Rockaway 80 has seven stories of office space plus a full-service cafeteria, ATM, picnic area and a two-level, 883-space parking structure.
Originally completed in 1991 and renovated in 2006, the property features a reflective glass facade with granite accents, a lobby with two-story atrium and interior appointments of granite, mahogany and brass.
Rockaway 80 is 77% leased to tenants including Warner Chilcott, Reed Elsevier, Prudential Insurance, Hartford Insurance and Edy’s Ice Cream.
Located at 100 Enterprise Drive, the property is approximately eight miles west of the intersection of Interstates 80 and 287 in Rockaway.
“Rockaway 8
0 benefits from a strategic location between Exits 34 and 35 of Interstate 80 providing excellent highway access,” said Klein. “This location also offers corporate tenants a unique combination of outstanding corporate amenities and close proximity to a growing population base.”
0 benefits from a strategic location between Exits 34 and 35 of Interstate 80 providing excellent highway access,” said Klein. “This location also offers corporate tenants a unique combination of outstanding corporate amenities and close proximity to a growing population base.” “We were very pleased with both HFF and MassMutual’s professionalism and execution in such a turbulent capital markets environment,” added Eric Cannon, associate director of acquisitions for GIM.
Grosvenor is a privately owned property group with offices in 17 of the world’s most dynamic cities.
The company has five regional investment and development businesses in Britain & Ireland, the Americas, Continental Europe, Australia and Asia Pacific. Grosvenor’s international fund management business operates across all of these regions. As of December 31, 2007, these six businesses had total assets under management of US$25.7 billion. For more information, please visit http://www.grosvenor.com/
CONTACTS:
Steven J. Klein, HFF Director, 212 245 2425, sklein@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com
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