 |
| Gateway Development, Downtown Salt Lake City, UT |
LOS
ANGELES, CA – HFF announced today that it has arranged a $53.9 million
financing for a four-property, Class A office portfolio totaling 440,708 square
feet in Salt Lake City, Utah.
 |
| Paul Brindley |
HFF
worked on behalf of a venture between a subsidiary of a fund managed by Oaktree
Capital Management, L.P. and Hines, to secure the five-year, floating-rate loan
through California Bank & Trust.
The loan proceeds were used to acquire the portfolio.
Built
between 2001 and 2012, the four buildings are located in downtown Salt Lake
City within the Gateway development, a mixed-use urban lifestyle center
that includes a total of 760,000 square feet of Class A office space and
approximately 130 retail, dining and entertainment venues including the Clark
Planetarium, Megaplex 12 at The Gateway, and the Discovery Gateway Children’s
Museum.
The
portfolio is 93percent leased to tenants such as Ernst & Young, Barrick
Gold of North America, Energy Solutions, and various government agency tenants.
The HFF
team representing the borrower was led by senior managing director Paul
Brindley and senior real estate analyst Jeff Sause.
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
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