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| Biynah Industrial Portfolio |
CHICAGO, IL, Nov. 16, 2015
– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured
$33.65 million in acquisition financing for a three-property industrial
portfolio totaling 1.7 million square feet near Minneapolis, Minnesota, and
Green Bay, Wisconsin.
HFF worked on behalf of
the borrower, a joint venture between Biynah Industrial Partners and Alex.
Brown Realty, Inc., to place the three-year, floating-rate loan with three
one-year extensions with Realty Finance Trust.
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| Matthew Schoenfeldt |
The 100-percent-occupied
portfolio contains one property in Minnesota and two in Wisconsin, all
highly-functional, modern warehouse facilities with proximity to interstates.
The Minnesota property is located at 435 Park Court in Lino Lakes and is
proximate to Interstate 35W. The
Wisconsin properties are 5929 Packer
Drive in Menomonie and 1731
Industrial Parkway in Marinette.
The HFF debt placement
team was led by managing director Matthew
Schoenfeldt.
“Biynah Industrial
Partners and Alex. Brown Realty manufactured a fantastic warehouse portfolio
here, coordinating between multiple property sellers and the demanding
corporate tenants that are in place,” Schoenfeldt said.
“With a basis more than 25 percent below
replacement cost and an unlevered yield in excess of 8.5 percent, this
portfolio represents value-investing at its finest. Realty Finance Trust immediately embraced the
borrowers’ strategy and delivered a fantastic execution, from application to
close.”
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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