HFF secures $37M financing for Class A office complex in St. Louis

NEW YORK, NY – The New York office of HFF (Holliday Fenoglio Fowler, L.P.) has secured $37 million in first mortgage financing for Creve Coeur Center, (top left photo)  a four-building Class A office complex in St. Louis, Missouri.

Working on behalf of institutional investors advised by J.P. Morgan Asset Management – Global Real Assets, HFF senior managing director Whit Wilcox (middle  right photo)  and director Steven Klein (bottom  left photo)  placed the 10-year fixed-rate loan with John Hancock Life Insurance Company (U.S.A.).

Creve Coeur Center is located at 600 Emerson Road at the Interstate 270/Olive Boulevard interchange approximately 13 miles west of downtown St. Louis.

The complex consists of four buildings totaling 587,056 square feet that are 85 percent occupied overall. Notable tenants include EMC, Pepsi, Progressive Insurance, Bunzl Distribution and Colliers Turley Martin Tucker. Complex amenities include a fitness center, cafes and two multi-level parking garages.

“Creve Coeur Center benefits from a superior location with excellent visibility and access to Interstate 270 as well as a diverse rent roll with stable cash flows,” said Klein.

J.P. Morgan Asset Management – Global Real Assets has approximately $43 billion in real estate and infrastructure assets, as of December 31, 2009.

With a 40-year history of successful investing and a staff of 359 professionals, J.P. Morgan Asset Management – Global Real Assets identifies, analyzes, negotiates, acquires, develops, redevelops, renovates, operates, maintains, finances and sells assets, on behalf of its clients.

J.P. Morgan Asset Management's broad investment capabilities and framework for analyzing opportunities in today's complex real estate and infrastructure markets provide critical insights for its institutional clients in both the public and private markets.

John Hancock Life Insurance Company (U.S.A.) has been in the mortgage lending business for 147 years and has a US mortgage portfolio in excess of $10 billion. Together with its parent company, Manulife Financial, it is the world's third largest life insurance company and one of the few AAA-rated stockholder-owned life insurance companies in the world. It invests over $1 billion a year in new investments.

Contacts:

Whitney H. Wilcox, HFF Senior Managing Director, (212) 245-2425, wwilcox@hfflp.com
 Steven J. Klein, HFF Director, (212) 245-2425, sklein@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com