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| Part of Industrial Portfolio in Dallas-Fort Worth, TX and Atlanta, GA Submarkets |
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| Adam Herrin |
DALLAS, TX –– HFF announces
the $99.4 million sale of and the $69.2 million acquisition financing for an
11-asset, 52-building industrial portfolio totaling 1.63 million square feet in
infill, established industrial submarkets in the Dallas-Fort Worth and Atlanta
MSAs.
The HFF team marketed the property on behalf of the
seller, Berkeley Partners.
A partnership led by Circle Industrial with the FREO Grouppurchased the assets.
Additionally, working on behalf of the new owner, the HFF team placed the three-year, floating-rate acquisition loan with two one-year extension options with CIBC.
A partnership led by Circle Industrial with the FREO Grouppurchased the assets.
Additionally, working on behalf of the new owner, the HFF team placed the three-year, floating-rate acquisition loan with two one-year extension options with CIBC.
The 87.3-percent-leased portfolio includes seven DFW-area
properties that total 1.07 million square feet in five industrial markets,
South Fort Worth, North Fort Worth, Northeast, South Stemmons and
Metropolitan/Addison.
The 28 buildings are categorized as either warehouse or light industrial and are leased to 149 tenants.
The four remaining portfolio properties are housed in the Atlanta area and comprise 24 light industrial buildings totaling 558,583 square feet all in the Doraville Industrial market. The Atlanta properties are home to 183 tenants.
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| Stephen Bailey |
The 28 buildings are categorized as either warehouse or light industrial and are leased to 149 tenants.
The four remaining portfolio properties are housed in the Atlanta area and comprise 24 light industrial buildings totaling 558,583 square feet all in the Doraville Industrial market. The Atlanta properties are home to 183 tenants.
The HFF investment advisory team representing the seller included
managing director Adam Herrin, director Stephen Bailey and senior managing
director Chris Norvell along with managing director Ralph Smalley.
The HFF debt placement team representing the borrower included
executive managing director Kevin MacKenzie, senior director Jeff Sause,
director Michael Cosby and analyst Spencer Richley.
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| Chris Norvell |
Founded in 2005, Berkeley Partners has formed a series of funds
focused on the light industrial sector.
The partnership includes a seasoned team of professionals with diversified experience in fund management, real estate investment, and property and leasing management.
The company and its affiliated entities make-up a vertically integrated real estate operating company, which has demonstrated an ability to manage investments, operations and dispositions through market cycles.
Berkeley Partners' industrial platform currently has assets under management totaling over $425 million, including value-add and core-plus strategies. The company's investors include large pension plans, insurance companies, endowments, foundations and family offices. Learn more at http://www.berkeleypartners.com.
The partnership includes a seasoned team of professionals with diversified experience in fund management, real estate investment, and property and leasing management.
The company and its affiliated entities make-up a vertically integrated real estate operating company, which has demonstrated an ability to manage investments, operations and dispositions through market cycles.
Berkeley Partners' industrial platform currently has assets under management totaling over $425 million, including value-add and core-plus strategies. The company's investors include large pension plans, insurance companies, endowments, foundations and family offices. Learn more at http://www.berkeleypartners.com.
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| Ralph Smalley |
Established in 1996, FREO Group is an independent international
investor, developer, and asset manager of high quality commercial real estate,
with over $2 billion in assets under management in 15 offices throughout Europe
and the U.S.
FREO’s past and present portfolio includes more than 40 projects totaling in excess of 16 million square feet across a variety of asset classes including industrial, office, retail, hotel, and residential. To learn more, visit http://www.freogroup.com.
FREO’s past and present portfolio includes more than 40 projects totaling in excess of 16 million square feet across a variety of asset classes including industrial, office, retail, hotel, and residential. To learn more, visit http://www.freogroup.com.
For more information,
please contact:
KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420
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