Friday, August 10, 2012

HFF arranges $10.2 million financing for Class A office in Carlsbad, CA

  

IRVINE, CA – HFF announced it has arranged a $10.2 million financing for a 75,160-square-foot, Class A office building in Carlsbad, California.

HFF worked exclusively on behalf of Mararisk Carlsbad, LLC to secure the 10-year, 3.66 percent fixed-rate loan through one of their life company relationships.

The building is located at 5791 Van Allen Way (top left photo),  approximately two miles north of McClellan-Palomar Airport in Carlsbad.  Built in 1999, the property is 100 percent occupied on a triple net lease basis to Life Technologies.  

The HFF team representing Mararisk Carlsbad, LLC was led by managing director David Bleiweiss (lower right photo) and director John Chun.
  
Contacts:

DAVID BLEIWEISS                                     
HFF Managing Director                            
(949) 253-8800                                         
dbleiweiss@hfflp.com                              

JOHN CHUN                                       
HFF Director                                      
(949) 253-8800                                 
jchun@hfflp.com                             

 OLIVIA N. HENNESSEY
HFF Associate, Marketing              
(713) 852-3500               
ohennessey@hfflp.com


Posted by Alex at 1:47 PM 0 comments
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HFF arranges $11 million financing for Warehouse Central in Denver, CO



 IRVINE, CA – HFF announced it has arranged an $11 million financing for Warehouse Central (top left photo) a 325,858-square-foot industrial building in Denver, Colorado.

HFF worked on behalf of IBC Holdings to secure the five-year, fixed-rate loan through a national life company.  HFF will also service the loan.

The property is located at 2300-2550 West 5th Avenue near the Grand Army of the Republic Highway and Interstate 25 interchange.  The property is 91 percent leased and includes approximately 10 percent office space.

The HFF team representing the borrower was led by senior managing director Kevin Mackenzie (middle right photo) and director Josh Simon (lower left photo).

“The lender displayed an excellent understanding of the asset and provided a flexible loan structure that allowed the borrower to execute their business plan while maintaining an attractive cost of capital,” commented Mackenzie.

IBC Holdings, LLC is a commercial real estate firm that specializes in the acquisition, development and redevelopment of industrial and office properties in select U.S. markets.  IBC concentrates its research driven efforts in primary and some secondary cities. 

 Its market driven strategy is threefold;
  •  Opportunistic acquisition of quality assets at a discount to replacement cost,
  • Creating value from the repositioning of existing facilities, and
  • Developing an inventory of general purpose industrial buildings.


Contacts:

KEVIN C. MACKENZIE 
 HFF Senior Managing Director                              
(949) 253-8800                                                      
kmackenzie@hfflp.com                                         


OLIVIA N. HENNESSEY
HFF Associate, Marketing              
(713) 852-3500               
ohennessey@hfflp.com


Posted by Alex at 1:35 PM 0 comments
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HFF closes $55.5 million sale of a five-property grocery-anchored retail portfolio in Florida

  

MIAMI, FL – HFF announced today that it has closed the sale of a five-property grocery-anchored retail portfolio totaling 333,615 square feet in northern and central Florida.

HFF marketed the properties on behalf of the seller, EDENS.  H&R REIT purchased the portfolio for $55.5 million.

Property details are listed below:

  • Corridors at Ponte Vedra, The Fresh Market anchor, 52,959 SF, 89.5% occupied, Jacksonville, FL
  • Mandarin Oaks, Publix anchor, 56,700 SF, 97.2% occupied, Jacksonville, FL
  • First Merritt Center, Publix anchor, 88,316 SF, 91.0% occupied, Merritt Island, FL
  • Publix at Holly Hill, Publix anchor, 57,870 SF, 97.8% occupied, Holly Hill, FL
  • Publix at Summer Bay, Publix anchor, 77,770 SF, 93.8%, Clermont, FL
 
 The HFF investment sales team representing the seller was led by senior managing directors Danny Finkle (top right photo) and Brad Peterson (middle left photo), director Luis Castillo (lower right photo) and real estate analyst Rob Saracco. 

Within the past 90 days, HFF has capitalized more than $325 million of retail transactions in Florida.




Contacts:

DANIEL FINKLE                                   
HFF Senior Managing Director               
(305) 448-1333                                          
dfinkle@hfflp.com                                  

LUIS CASTILLO                        
HFF Director                              
(305) 448-1333                             
lcastillo@hfflp.com                     
  
OLIVIA N. HENNESSEY
HFF Associate, Marketing              
(713) 852-3500               
ohennessey@hfflp.com


Posted by Alex at 1:21 PM 0 comments
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$75 million sale of 200 West Monroe in Chicago’s West Loop closed by HFF



CHICAGO, IL – HFF announced  it has closed the sale of 200 West Monroe (top left photo), a 535,900-square-foot office building in Chicago.

HFF marketed the property on behalf of a national private investment firm.  A joint venture comprised of Lubert Adler and The Farbman Group purchased the property for $75 million.

200 West Monroe is located at the northwest corner of the intersection of West Monroe and South Wells in the West Loop district of Chicago. 

Renovated in 2006, the 23-story property is currently 80 percent occupied.  The property also includes 113,354 square feet of separately-owned space that is occupied by an affiliate of the Jewish Federation of Metropolitan Chicago.
 


The HFF investment sales team representing the seller was led by senior managing directors Jeff Bramson (middle right photo) and Jaime Fink (lower left photo) and director Mark Katz. 

Lubert-Adler is a real estate investment company co-founded by Ira Lubert and Dean Adler in March 1997.  Messrs. Lubert and Adler collectively have more than 50 years of experience in underwriting, acquiring, repositioning, refinancing and exiting real estate assets. 

For more information, visit www.lubertadler.com. 
 
Based in Detroit, The Farbman Group is one of the largest and most respected full-service commercial real estate organizations in the country. 

With more than three decades of experience, the firm offers a wide range of customized real estate services including brokerage, property management, development, construction and tenant services. 

For more information, visit www.farbman.com
.

Contacts:

JEFFREY M. BRAMSON                           
HFF Senior Managing Director             
  (312) 528-3650                                       
bramson@hfflp.com                            

JAIME F. FINK                                       
HFF Senior Managing Director       
(312) 528-3650                                   
jfink@hfflp.com                                

OLIVIA N. HENNESSEY
HFF Associate, Marketing              
(713) 852-3500               
ohennessey@hfflp.com



Posted by Alex at 12:58 PM 0 comments
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