HFF arranges $130 million financing for 11-property industrial portfolio in five states for IDI Inc.

  

ATLANTA, GA – HFF announced today that it has arranged $130 million in financing for an 11-property, 2.9 million-square-foot industrial portfolio located in five states.

Mark Sixour

               Working on behalf of Industrial Developments International, Incorporated (IDI), HFF placed a $99.8 million, three-year, floating-rate first mortgage loan with Wells Fargo Bank.  A $30.2 million mezzanine loan was sourced through AEW Capital Management. 

The properties are comprised of Class A logistics and bulk distribution industrial facilities located near major interstates, airports and ports in their respective markets.  Overall the portfolio is 79 percent occupied.  Key tenants include Walgreen’s L’OREAL, Menlo Logistics, Red Bull, Valspar and ADT Security.  Individual property details are listed below:

Property                                           Address                                                                          Property Size

Greenspoint Business Center A     11710 North Freeway, Houston, TX                           54,818 SF

Greenspoint Business Center B     51 Esplanade Road, Houston, TX                                106,700 SF

Greenspoint Business Center D     101 Esplanade Road, Houston, TX                              244,557 SF

Madison Business Center A           4406 Madison Industrial Lane, Tampa, FL                 385,619 SF

Miramar Business Center F            11650 Miramar Parkway, Miramar, FL                      63,010 SF

Miramar Centre A                           15701 SW 29^th Street, Miramar, FL                            264,074 SF             

Northport Industrial Center           699 Kapkowski Road, Elizabeth, NJ                            342,705 SF

Park South Building E                     60 Logistics Boulevard, Walton, KY                            678,363 SF

Port Union Building J                      7390-7410 Union Centre, Fairfield, OH                     109,063 SF

Rock Run Business Park IX             4101 Olympic Boulevard, Joliet, IL                              339,741 SF

Rock Run Business Park VIII           4500 Rock Creek Boulevard, Joliet, IL                         352,500 SF

The HFF team representing the borrower was led by senior managing director Mark Sixour.

               IDI is one of the largest privately-held real estate property companies in North America focused exclusively on the industrial sector.  

The company, headquartered in Atlanta and serving 25 markets, provides development, investment management and property management and leasing services to corporations, property owners, investors, financial institutions and real estate service providers.  

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

krmurphy@hfflp.com