NEW YORK, NY – The New York office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged $33.5 million in financing for the Hampton Inn 35th Street, a recently-completed, 147-room hotel in Manhattan’s Herald Square.(Prior under-construction photo, top right)
Working exclusively on behalf of MMG-35 LLC, HFF senior managing director Jay Marshall (middle left photo) placed the five-year, fixed-rate loan with Cigna Investments.
Financing proceeds were used to acquire the prope
rty, which was part of a portfolio of three hotels.
rty, which was part of a portfolio of three hotels. The hotels were pre-bought approximately 12 months ago with the titles changing hands upon receipt of the Certificate of Occupancy.
The Hampton Inn 35th Street is a 20-story, full-service hotel that opened for business in October 2008. Located at 57 West 35th Street, the property is between 5th and 6th Avenues close to Pennsylvania Station and Grand Central Station in Midtown West Manhattan.
“The Hampton Inn 35th Street is perfectly positioned to appeal to both business and leisure travelers. It is located close to the Midtown Manhattan office market as well as tourist spots such as Times Square, the Theatre District, Rockefeller Center and shopping along Fifth Avenue,” said Marshall.
CONTACTS:
Jay B. Marshall, HFF Senior Managing Director, 212 245 2425, jmarshall@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com
Acadiana Centre in Friendswood, TX Obtains Financing
HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced has arranged financing for Acadiana Centre, (bottom left photo) a 39,463-square-foot retail center in Friendswood, Texas.
HFF managing director Tucker Knight (bottom right photo) and real estate analyst Brad Ballard worked exclusively on behalf of Matthew G. Dilick, president of Commerce Equities, to secure the fixed-rate loan through Michael Peery of Enterprise Bank. Loan proceeds were used t
o retire existing debt. Acadiana Centre is located at 400 West Parkwood and is shadow anchored by HEB in the southeast Houston suburb of Friendswood.
The property was originally completed in 1997 as a single-tenant retail center and was renovated in 2007 for multi-tenant use. Currently, Acadiana Centre is 96% occupied.
Commerce Equities, Inc. is a full-service real estate development, construction and property management organization that has overseen the development, completion and management of more than $400 million in multifamily, residential, hotel, retail and industrial real estate projects.
CONTACTS:
Tucker S. Knight, HFF Managing Director, 713 852 3500, tknight@hfflp.com
Laurie Fish McDowell, HFF Associate Director, 617 338 0990, lmcdowell@hfflp.com
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