LOS ANGELES, CA – HFF announced today that it has arranged an $85 million refinancing for a 22-property portfolio totaling about three million square feet in seven markets throughout the United States.
HFF worked exclusively on behalf of the borrower, an affiliate of a real estate fund managed by Oaktree Capital Management, L.P. and Cohen Asset Management, Inc., to secure the five-year, fixed-rate loan through a correspondent life insurance company. The loan will be serviced by HFF.
The portfolio consists of 20 industrial and two office properties located in Los Angeles, Silicon Valley, Seattle, Philadelphia, Dallas, Indianapolis and Cincinnati. Properties include small industrial facilities, large warehouse, R&D/Flex and office space. The portfolio’s tenants include Promotions Distribution Services Corp. (wholly owned by Ebay), Amazon.com KYDC LLC, Hoya Corporation, GlaxoSmithKline, UPS Supply Chain Solutions, Inc. and Caterpillar Logistics Services, Inc.
The HFF team representing the borrower was led by senior managing director Paul Brindley (top right photo) and director John Crump (lower left photo).
Established in 1992, Cohen Asset Management, Inc. (CAM) is a national owner and operator with a primary focus on the industrial real estate sector and extensive experience in successfully implementing value-add strategies. CAM is strategically headquartered in Southern California with a regional office in Northern New Jersey.
Contacts:
PAUL BRINDLEY KRISTEN MURPHY
HFF Senior Managing Director HFF Associate Director, Marketing
(310) 407-2100 (713) 852-3500
pbrindley@hfflp.com krmurphy@hfflp.com
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