HOUSTON, TX – The Houston and Los Angeles offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have arranged $85 million in financing for the Lantana Media Campus, (top left photo) a 462,429-square-foot Class A office campus in Santa Monica, California.
HFF associate director Colby Mueck, managing director Mark Wintner and executive managing director Scott Galloway worked exclusively on behalf of the borrower, The Lionstone Group, to secure the fixed-rate financing through Cornerstone Real Estate Advisers, based in Hartford, Connecticut.
Houston-based Lionstone acquired the property from Maguire REIT with cash in December 2009 and closed on permanent financing in February 2010.
The property consists of four of the five buildings within the Lantana Media Campus including the 203,102-square foot Center Building, the 62,087-square-foot West Building, the 65,998-square-foot IMAX Building and the 131,242-square-foot South Building.
Contacts:
M. Colby Mueck, HFF Associate Director, (713) 852-3500, cmueck@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
HFF completes $105.4M sale of two small-balance commercial real estate loan pools
CHICAGO, IL –HFF (Holliday Fenoglio Fowler, L.P.) has completed the sale of two small-balance commercial real estate loan pools totaling $105.4 million on behalf of a special servicer and a money-center bank.The two portfolios were marketed separately and include 95 loans in 25 states. Rather than offering and then selling the loans to investors on a “bulk” or portfolio basis, which is typical in the industry for such type of loans, HFF instead was able to tap into its investment sales database and target local, strategic buyers willing to aggressively bid on individual assets.
In total, more than 600 confidentiality agreements were executed. The assets offered were sold in 26 different transactions to 18 different local and regional buyers.
“In all, HFF’s unique approach netted 20 to 25 percent more in sales proceeds with fewer kick-out than had HFF sold the loans in aggregate to traditional large-portfolio bidders,” said Mitchell.
Contacts:
William G. Mitchell, HFF Managing Director, (312) 980-3607, wmitchell@hfflp.com
Stuart M. Salins, HFF Senior Managing Director, (312) 528-3678, ssalins@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
HFF secures $3.3M acquisition financing for suburban Portland, OR multi-housing community
Working on behalf of the borrower, HFF associate director Tom Wilson placed the 10-year, 5.77% fixed-rate loan with HFF’s correspondent Fannie Mae DUS Lender, M&T Realty Capital Corporation. Loan proceeds are being used to acquire the property for a purchase price of $4.8 million.
Willow Creek is located at 903 SW 185th Avenue near the intersection of SW Baseline Road and SW 185th Avenue with easy access to the MAX Light Rail Blue Line in Beaverton, approximately 10 miles west of downtown Portland. Completed in 1990, the 90% leased property has two-bedroom/two-bath units totaling 985 square feet each.
“Willow Creek represents one of the first Portland metro multi-housing acquisitions in 2010. The transaction reflects a rare opportunity to acquire a Class B asset at an attractive basis coupled with investment upside in a market with limited acquisition volume,” said Wilson.
Contacts:
Thomas F. Wilson ,HFF Associate Director, (503) 224-0444, twilson@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
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