HFF arranges $111.5 million refinancing for seven-property portfolio

Trey Morsbach

DALLAS, TX – HFF announced it has arranged a $111.5 million refinancing for a seven-property portfolio totaling approximately 1.4 million square feet across five states.

HFF worked exclusively on behalf of the borrower, Madison Core Property Fund, a real estate fund managed by New York Life Real Estate Investors, to secure the fixed-rate loan that an HFF correspondent life company split into a five- and seven-year tranche.  HFF is also servicing the loan.

The portfolio is 96 percent leased. Individual property details are below:

Property Name & Location            Property Type/Year Built Size                      

Centerstone Plaza – Irvine, CA      Office/Retail/1988   156,880 SF

Bolingbrook – Bolingbrook, IL        Industrial/2001           283,630 SF          

Auburn Park – Auburn, WA            Industrial/2008            141,970 SF          

Sumner North – Sumner, WA         Industrial/2007             132,935 SF

Wellington Place – Medford, MA     Multi-housing/2005       137 Units

Pointe at Warner Center – Woodland Hills, CA    Multi-housing/2004        136 Units

Reserve at Sugarloaf – Duluth, GA   Multi-housing/2001      333 Units            

De'On Collins

The HFF team representing the borrower was led by senior managing director Trey Morsbach and associate director De’On Collins.

New York Life Real Estate Investors is a division of New York Life Investments* and NYL Investors, LLC, wholly-owned subsidiaries of New York Life Insurance Company.  New York Life Real Estate Investors is a full service, fully-integrated real estate enterprise with more than 100 professionals. 

The division has market-leading capabilities in origination, underwriting, and investment in real estate equity products and related debt, including real estate equity investments, commercial mortgage loans, commercial mortgage backed securities, and unsecured REIT bonds. 

With over $37 billion in assets under management as of June 30, 2014, New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S. 

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com