PITTSBURGH, PA – HFF announced today that it has secured a $32.25 million first mortgage financing for The Grant Building (top left photo), a 37-story, 461,935-square-foot office building in Pittsburgh’s central business district.Working exclusively on behalf of McKnight Realty Partners, HFF placed the 10-year, 5.25 percent, fixed-rate loan with Nationwide Real Estate Investments. Loan proceeds were used to refinance the acquisition and renovation loan.
This is the second financing HFF has secured on behalf of McKnight through Nationwide; earlier in 2011, a $15.5 million financing was arranged for 615 Alpha Drive in Pittsburgh.
The Grant Building is located at 310 Grant Street between Third and Fourth Avenues close to the Parkway (Interstates 279/376) and within walking distance of four Light Rail Transit (LRT) stops.
Originally built in 1928, the property features five levels of underground parking for approximately 250 cars plus a new, state-of-the-art fitness center. The property is connected via an underground walkway to the City-County Building, County Office Building and County Courthouse.
The Grant Building is 92 percent leased by tenants including Huntington Bank and The Hillman Company.
The HFF team representing McKnight Realty Partners was led by executive managing director Gerard Sansosti.
McKnight Realty Partners is a leading real estate investment and development company based in Pittsburgh, Pennsylvania.
Contacts:
Gerard T. Sansosti, HFF Executive Managing Director, (412) 281-8714, gsansosti@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500
No comments:
Post a Comment