Saturday, November 12, 2016
DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged post-acquisition financing for a portfolio of 154 convenience and gas station sites totaling 97.8 acres in the northeastern United States.
HFF worked on behalf of the borrower, a subsidiary of a private real estate investment fund advised by Crow Holdings Capital–Real Estate, to secure the five-year, floating-rate acquisition loan with 18 months interest only. The loan was provided by a consortium of lenders, led by Capital One and BMO Harris.
The portfolio properties comprise 88 sites in New York, 45 sites in Massachusetts and 11 sites in Connecticut. Additionally, there are seven sites in New Hampshire, two Rhode Island sites and one site in Pennsylvania.
All 154 properties are subject to an absolute net lease for 20 years with a subsidiary of Petroleum Marketing Group, a leading jobber and distributor of petroleum products and operator of convenience stores.
HFF’s debt placement team was led by senior managing director Andy Scott and associate director Michael George.
For a complete copy of the company’s news release, please contact:
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | fax 617.338.2150 | www.hfflp.com
Posted by Alex at 1:55 PM