Thursday, November 5, 2015

HFF closes $75 million sale and secures $51.13 million in financing for 4-property Class A office portfolio in Fort Lauderdale, FL

Sawgrass International Corporate Park, Fort Lauderdale, FL

Hermen Rodriguez
 MIAMI, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and secured financing for a four-property, Class A office portfolio totaling 348,676 square feet in Fort Lauderdale’s Sawgrass International Corporate Park. 

HFF represented seller, F6 Sawgrass, LLC, an affiliated entity of The Brookdale Group.  M-M Properties and a large institutional investor purchased all four assets for $75 million.  

Additionally, HFF assisted the new owner in securing $51.13 million in acquisition financing through J.P. Morgan. 

The portfolio consists of four assets within the Sawgrass International Corporate Park in Fort Lauderdale: Corporate Center I (1551 Sawgrass Corporate Parkway) and III (1601 Sawgrass Corporate Parkway), International Place I (1560 Sawgrass Corporate Parkway) and Sawgrass Plaza (1550 Sawgrass Corporate Parkway). 

This location is close to Interstates 75 and 595, and the Sawgrass Expressway and is just southwest of the Sawgrass Mills Mall, which sees more than 25 million visitors per year, making it the second most visited attraction in Florida after Walt Disney World Resort.

Ike Ojala
 Overall, the buildings, built between 1997 and 2000, are 93 percent leased to tenants including Centene Management, eFunds Corporation, Regus Business Centre, Interim HealthCare and Marsh USA, Inc. 

The HFF investment sales team representing the seller included senior managing director Herman Rodriguez, director Ike Ojala and associate director Jorge Portela.

HFF’s debt placement team representing the buyer/borrower was led by senior managing directors Paul Stasaitis and John Brownlee.

  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 |

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