 |
| Seng-Liang Wang Hall, Purdue University Campus, West Lafayette, IN |
INDIANAPOLIS, IN – HFF announced it has secured $16 million
in financing for 516 Northwestern, a 135,397-square-foot, LEED-quality retail,
office, laboratory, and classroom facility recently completed on the Purdue
University campus in West Lafayette, Indiana.
 |
| Dave Keller |
Working on behalf of the borrower, 516 Northwestern Associates, L.P., an
affiliate of Browning Investments, HFF placed the 25-year fixed-rate loan with
John Hancock Life Insurance Company.
Loan proceeds were used to retire the construction financing.
The
property, which is known on the Purdue campus as Seng-Liang Wang Hall
(“Wang Hall”), features 122,610 square feet of Class A office/laboratory space,
12,787 square feet of street level retail space, which is partially occupied by
the Purdue Federal Credit Union, and office/laboratory/research space that is
occupied by Purdue University’s School of Electrical and Computer
Engineering.
On-site amenities include
surface parking, electric vehicle charging stations and a floor to
ceiling glass atrium.
The Class A
facility, which is located directly across Northwestern Ave from The College of
Engineering, is also conveniently located near the Purdue Academic Quad and
Purdue’s Mackey Arena and Ross-Ade stadium along one of the most heavily
traveled corridors on the Purdue campus.
 |
| Mackey Arena, Purdue University, West Lafayette, IN |
The
HFF debt placement team representing the borrower was led by senior managing
director Dave Keller.
Founded in 1977, Browning remains one of the premier development
companies in Indianapolis and is engaged in the acquisition, development,
construction, leasing, management, ownership and disposition of investment real
estate properties, primarily in the Indianapolis metropolitan area.
In total, Browning
has developed and constructed more than 15 million square feet of space. To learn more, visit
www.browninginvestments.com.
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
No comments:
Post a Comment