HFF secures $7 million financing for Cleveland Hampton Inn in Brooklyn, OH

Hampton Inn Cleveland Airport-Tiedeman Road, 10305 Cascade Crossing
Brooklyn, OH

 

Jason Bond

CHICAGO, IL –Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $7 million in financing for Hampton Inn Cleveland Airport-Tiedeman Road, an 81-room, select-service property in the Cleveland suburb of Brooklyn, Ohio.

HFF worked on behalf of the borrower, Everest Hospitality LLC, an affiliate of the C/N Group, Inc., to place the 10-year, fixed-rate loan with Starwood Mortgage Capital. 

Loan proceeds will be used to acquire the property and complete renovations that will elevate the hotel to achieving the Hampton Inn Forever Young designation, a multi-pronged program that focuses on updating and modernizing hotels to attract younger guests.

Located at 10305 Cascade Crossing, Hampton Inn Cleveland Airport-Tiedeman Road is four miles east of Cleveland Hopkins International Airport, the largest airport in Ohio, and 10.6 miles west of downtown Cleveland.

 From 2011 to 2014, the hotel underwent almost $500,000 in renovations, including a new lobby, carpet, and upgrades to cooling, Wi-Fi and security systems.  The hotel received the 2014 TripAdvisor Certificate of Excellence Award for achieving outstanding traveler reviews on the TripAdvisor website.

 Features include an indoor pool, fitness center, business center and 1,128 square feet of meeting space.  Hampton Inn Cleveland Airport-Tiedeman Road’s planned updates include completely redoing all rooms and corridors, as well as radically enhancing the exterior by modifying the fascia and roofline.

The HFF debt placement team representing the borrower was led by associate director Jason Bond and managing director Daniel Kaufman.

 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

 

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HFF arranges sale and financing for Two Liberty Square in Boston, MA

Two Liberty Square, Downtown Boston, MA

Lauren O'Neil

BOSTON, MA –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged the sale of and acquisition financing for Two Liberty Square, a 67,609-square-foot office building in Boston, Massachusetts. 

The seller, CenterSquare Investment Management, on behalf of one of its institutional clients, sold the asset to an affiliate of The Winhall Companies.  Additionally, working on behalf of the new owner, HFF secured the 10-year, fixed-rate loan through SunLife.   

Originally constructed in 1913, the 11-story, Beaux Arts-style, boutique office building is located in downtown Boston steps from Post Office Square.  

The property is 82 percent occupied by tenants including Zipcar on the ground floor in addition to Humana, Arthur J. Gallagher, Copyright Clearance Center and Brill.

The HFF investment sales team representing the seller was led by senior managing director Coleman Benedict and director Ben Sayles. 

The HFF debt placement team was led by director Lauren O’Neil.

“The sale of Two Liberty Square is a win-win for both the buyer and seller,” Sayles said.  “CenterSquare was able to take advantage of today’s strong market, while Winhall was able to take advantage of historically low interest rates and acquire an asset that will perform exceptionally well in the years to come”. 

Ben Sayles

According to HFF, Boston has emerged as a favorite investment market among today’s most active capital sources.  Due to the surging tenant demand from traditional users and the influx of TAMI tenants – those engaged in technology, advertising, media and information – market conditions are getting tighter by the day. 

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

 

www.centersquare.com

Landmark AMA Plaza in Chicago listed for sale by HFF

AMA Plaza, on the Chicago River in River North area of Chicago, IL

Jaime Fink

CHICAGO, IL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has been engaged by an affiliate of Five Mile Capital Partners (Five Mile Capital) to market and sell AMA Plaza, a 1.14 million-square-foot, Class A, trophy office and adjacent 902-stall parking garage located on the Chicago River in the River North area of Chicago, Illinois.

Home to the American Medical Association, the 95-percent-leased AMA Plaza boasts a roster of internationally-recognizable, high-quality tenants with a weighted average lease term of nearly 9.5 years. 

The 52-story building is one of Chicago’s premier office towers.  AMA Plaza is a LEED Gold Certified multi-tenant office building situated on top of a separately owned 316-room, five-star luxury Langham Hotel. 

 AMA Plaza, through a recent $73.7 million base-building capital expenditure plan, has been completely redeveloped with all new mechanical systems, elevators, HVAC, restrooms, corridors and a “Green Roof.” 

The property is virtually a new building within an elegant glass and steel façade.  Located on a 1.6-acre site in downtown Chicago on the banks of the Chicago River, AMA Plaza is a designated Chicago Landmark and listed on the National Register of Historic Places.

Jeff Bramson

 The building is the last and largest American building designed by the renowned architect Ludwig Mies van der Rohe, who achieved visual richness through his meticulous choice of materials and minimalist design.

The HFF team representing Five Mile Capital is being led by senior managing directors Jaime Fink, Jeff Bramson and Michael Kavanau, executive managing directors John Pelusi and Gerard Sansosti and managing director Mark Katz. 

“AMA Plaza represents a worldwide generational opportunity to acquire an irreplaceable architectural icon,” Fink said.  “The property transcends the local market and takes its place among the best trophy office towers in the world.”

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

  

HFF arranges development joint venture for mixed-use site in Washington, D.C.’s NoMa submarket

  

 

Sue Carras

 WASHINGTON, D.C. –  Fenoglio Fowler, L.P. (HFF) announced it has arranged a joint venture for the Central Armature Works site, a 106,000-square-foot, mixed-use development site adjacent to the NoMa/Gallaudet University metro station in Washington, D.C.

HFF worked on behalf of the land owner, Central Armature Works, to arrange the development joint venture partnership with Trammell Crow Company (TCC).

Located at 1200 3rd Street NE, the site is the future home of a mixed-use development with multi-housing units and street-level retail space, upon completion of PUD approval.

 Positioned in the burgeoning NoMa submarket of Washington, D.C., 1200 3rd Street NE sits at the confluence of the city’s fastest growing areas, including NoMa, Union Market and the H Street NE Corridor. 

The development site is adjacent to the NoMa/Gallaudet University metro station on the red line, providing connectivity to the entire metropolitan region.

The HFF team representing the land owner was led by Bruce Strasburg, Sue Carras, Walter Coker, Brian Crivella and Mike Stuart.

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

www.TrammellCrow.com.