HFF sources $105 million secured credit facility for N3 Real Estate

DALLAS, TX – HFF announced today that it has sourced a $105 million secured credit facility for N3 Real Estate backed by a portfolio of  more than 50 net-leased  retail assets.

 The properties are predominantly single-tenant, triple net lease assets in various cities across the United States.

               HFF worked on behalf of N3 Real Estate to secure the $105 million financing through a bank syndicate including KeyBank Real Estate Capital, Regions Bank and Comerica Bank. 

Key Bank served as the administrative agent and lead arranger with Regions serving as syndication agent.  The transaction included a $60 million term loan and a $45 million revolver.  The facility will allow N3 to grow its portfolio significantly in the future.  

Travis Anderson

               The initial portfolio is 100 percent occupied with an average remaining lease term of more than 11 years.  Furthermore, the portfolio’s tenant profile is approximately 35 percent investment grade. 

               The HFF team representing the borrower was led by managing director Travis Anderson and De’On Collins.

N3 Real Estate (Southlake, TX) owns, manages and develops net-leased retail assets across the United States. 

 Founded in 2004, N3 has developed more than 200 single and multi-tenant retail projects for national and local retailers across the United States.   Today, N3 owns and manages more than $200 million of retail assets with an additional $250 million available for investment.

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