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| Michael Weinberg |
ORLANDO, FL –HFF announced it has secured $50 million in
refinancing for three office properties totaling more than 780,000 square feet
in Central Florida. These properties
include Quorum Center and Oakridge Office Park in Orlando and 850
Trafalgar in Maitland.
HFF worked exclusively on behalf of the borrower, a joint
venture between The Praedium Group and Tower Realty Partners, Inc., to secure
the loans in two separate transactions.
 |
| Elliott Throne |
The10-year, fixed-rate loans for Quorum Center and 850
Trafalgar were placed with UBS Real Estate Finance Group. The 10-year, fixed-rate loan for Oakridge
Office Park was placed with Morgan Stanley.
All three non-recourse, securitized loans were priced in the mid four
percent range.
The HFF team representing the borrower was led by Michael
Weinberg, a director in HFF’s Orlando office, along with directors Elliott
Throne and Chris Drew and senior real estate analyst Jorge Portela
from HFF’s Miami office.
 |
| Chris Drew |
The Praedium Group is a privately-held real estate
investment firm focusing on under-performing and under-valued assets throughout
the United States.
The Praedium Group was formed in 1991 and since inception
has completed more than 350 transactions representing $9.1 billion of capital,
including 72,000 multifamily units and 42 million square feet of commercial
space.
During the past 21
years, The Praedium Group has sponsored a series of seven private equity funds
as well as several separate investment vehicles.
 |
| Cliff Stein |
The commingled funds and separate accounts sponsored by The
Praedium Group have attracted investors that include public and corporate
pension funds, financial institutions, insurance companies, foundations and
endowments. For more information, please
visit www.praediumgroup.com.
Tower
Realty Partners is an Orlando-based commercial real estate owner focusing on
value-added opportunities throughout Florida.
Tower was formed in 1987 by Cliff Stein and Reid Berman.
 |
| Reid Berman |
Since its inception, Tower has acquired more than $1 billion
of office properties. Currently,
Tower’s assets consist of more than 3.5 million square feet of office property
throughout Florida. www.towerrealtypartners.com.
Contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
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