Friday, May 3, 2013

HFF marketing for sale CityPlace 6 in suburban St. Louis, MO




CityPlace 6, Creve Coeur, MO
Jeff Bramson

CHICAGO, IL - HFF announced today that it has been selected to market the sale of CityPlace 6, a 223,960-square-foot, Class A office building in Creve Coeur, Missouri.

HFF is marketing the property on behalf of the seller, an affiliate of The Koman Group, for an undisclosed amount free and clear of debt.

Jaime Fink
                The 10-story office tower is located at the intersection of Interstate 270 and Olive Boulevard surrounded by the affluent suburban communities of west St. Louis County. 

The CityPlace 6 income stream is anchored by a RockTenn (S&P: BBB-) lease that covers 60 percent of the rentable square feet of the property through December 2021 with contractual rent growth.  The 91 percent leased property offers a combination of being a high-profile asset with investment grade tenancy and a premier location.

Mark Katz
                The HFF investment sales team representing the seller was led by senior managing directors Jaime Fink and Jeff Bramson and directors Mark Katz and Daniel Kaufman.

“CityPlace 6 offers an investor an attractive and stable yield for the next 8.5 years through RockTenn’s investment grade credit anchor lease along with contractual rent growth,” said Fink.

The Koman Group (“TKG”) is a fully integrated real estate developer and owner, managing all aspects of real estate investments from inception to disposition.  

Daniel Kaufman
Since 1990, TKG has developed more than $1 billion in new projects, structured more than $800 million in mortgage-backed, preferred equity and joint venture financings, and has performed construction, leasing, and property management for assets totaling more than 5 million square feet.
  
For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

No comments:

Post a Comment