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| 37 West 26th Street, New York City, NY |
NEW YORK, NY – Holliday
Fenoglio Fowler, L.P. (HFF) announced it has arranged $58 million in four
separate financings on behalf of New York-based Windsor Management
Corporation.
The loans are secured by 37
West 26th Street and 256 West 36th Street in Manhattan; 411 Theodore Fremd
Avenue in Rye, New York; and 6 Armstrong
Road in Shelton, Connecticut.
37 West 26th Street is a
122,630-squre-foot office building with ground floor retail located on 26th
Street between 6th Avenue and Broadway in Manhattan.
The 98-percent-occupied property is leased to
The Flatiron Room, Hog Pit BBQ and Grey Bar on the ground floor and a variety
of office tenants on the floors above.
HFF secured a $25 million, long-term, fixed-rate loan for 37 West 26th
Street through a life insurance company.
256 West 36th Street is a
35,916-square-foot office building with ground floor retail located on 36th
Street between 7th and 8th Avenues in the Garment District of Manhattan. The property is fully leased to a variety of
office tenants and a clothing retailer occupies the ground floor. Long-term, fixed-rate financing in the amount
of $8.5 million was provided by the same life insurance company that financed
37 West 26th Street.
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| Steven Klein |
411 Theodore Fremd Avenue is an 118,658-square-foot, Class A office building in Rye, New York. The property is fully leased and operates as the headquarters of Acadia Realty Trust in addition to being the home of 24 additional tenants, including Regis and USAlliance Financial.
Long-term, fixed rate financing in the amount of $16 million was provided by a life insurance company.
6 Armstrong Drive is
situated on 16 acres along Route 8 in the western Connecticut community of
Shelton. Renovated in 2013, the property
features 163,287 square feet of 92-percent-leased office space. A national bank provided an $8.5 million,
long-term, fixed-rate loan.
The HFF debt placement
team was led by managing director Steven
Klein and director Geoff Goldstein.
“Given the
multi-generational sponsorship, low leverage request and strong asset quality
of the portfolio, we were successful in obtaining interest from a variety of
lenders, including banks and insurance companies, at attractive terms,” said
Klein.
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Director, Marketing
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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