Monday, June 8, 2015

HFF arranges $8.8 million acquisition financing for Class A warehouse in suburban Indianapolis


MetroAir Business Park Building 3, Plainfield, IN

Chicago, IL – June 8, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $8.8 million in acquisition financing for  MetroAir Business Park Building 3 (MetroAir 3), a 248,336-square-foot, 100-percent-leased, Class A industrial facility in the Indianapolis suburb of Plainfield, Indiana.

Matthew Schoenfeldt
HFF worked on behalf of the borrower, a joint venture between Meritex and an institutional investor, to arrange the 10-year, fixed-rate loan with a top-tier life insurance company.

Completed in 2008, MetroAir 3 is situated on 13.32 acres within the 1,200-acre MetroAir Business Park. 

The state-of-the-art building features 28’ clear heights, 30 dock doors, 140’ rear loaded truck court and six drive-in doors in addition to 280 parking spaces. 

The building is currently leased to three tenants:  Rolls Royce, Fiserv Solutions and Novitex Enterprise Solutions.  

Located at 758 Columbia Road, the asset is in the Plainfield submarket and delivers access to the Indianapolis International Airport and the nearby Indianapolis loop, which provides connectivity to Interstates 70, 79, 65 and 69.

The HFF debt placement team representing the borrower was led by managing director Matthew Schoenfeldt and real estate analyst Nicole Schmidt. 

Nicole Schmidt
“This is a generational asset that checks all the boxes for a seasoned, savvy and long-term investor like Meritex,” Schoenfeldt said. 

“With an A-plus location, superior-quality construction and tenants that are heavily-invested in their space all in a highly adaptable facility, the lenders responded with gusto to this pairing of a quality sponsor and a property that matches.”

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

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