HFF arranges $11.1 million financing for four-building industrial portfolio in Atlanta, GA

Ken Martin

INDIANAPOLIS, IN –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $11.1 million in acquisition financing for a fully-leased, four-building industrial portfolio totaling 409,851 square feet in the metropolitan Atlanta area.

HFF worked on behalf of the borrower, Citimark, Inc. (Citimark), to place the seven-year, fixed-rate loan with 40/86 Mortgage Capital, Inc.  

This acquisition signals Citimark entry into the Atlanta market, forwarding Citimark’s strategy of purchasing infill Class A and B small bay industrial properties in primary markets in the United States.

The portfolio comprises Airport Plaza 2 and 3 at 470 and 472 Plaza Drive in College Park near Hartsfield International Airport; Atlanta Northeast 11 at 4164 Northeast Expressway in Doraville, which is located in the Interstate 85 Northeast submarket at the intersection of Interstate 85 and Interstate 285; and Royal Industrial Center 3 at 5025 North Royal Atlanta Drive in Tucker, also in the Interstate 85 Northeast submarket. 

The buildings were all developed between 1970 and 1985, have clear heights ranging from 18’ to 24’ and were 100 percent leased at acquisition. 

The HFF debt placement team representing the borrower was led by director Ken Martin.

Tim Hoffman

“Atlanta serves as the industrial hub of the southeast, and as Citimark continues to grow its industrial presence nationally, it’s important that we establish and grow a presence there,” said Citimark CIO Tim Hoffman.  “The fundamentals in Atlanta remain strong, and we feel there will continue be opportunities to grow our footprint in the market.”

HFF’s Industrial Group is extremely active in the southeastern United States, having closed more than 100 investment sales and debt placement transactions involving more than 84 million square feet in the last five years.

 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Director, Public Relations

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

http://www.citimarkinc.com.

HFF arranges sale of and $42.4 million financing for the Rotunda Building in Charlotte, NC

Rotunda Building, SouthPark Submarket, Charlotte, NC

 

Ryan Clutter

CHARLOTTE, NC  – Holliday Fenoglio Fowler, L.P. (“HFF”) announced it has closed the sale of and arranged $42.4 million in acquisition and improvement financing for the Rotunda Building, a 230,790-square-foot, premier, Class A, multi-tenant office building in the prestigious SouthPark submarket of Charlotte, North Carolina.

HFF marketed the property on behalf of the seller, a global asset manager.  Equus Capital Partners, Ltd. purchased the building.  Additionally, HFF worked on behalf of the new owner to place the floating-rate acquisition loan with Bank of America Merrill Lynch.

The Rotunda Building represents one of Charlotte’s trophy, iconic office buildings.  Completed in 1988, the four-story building features a two-floor parking deck and surface parking with a total of 761 dedicated parking spaces; lobby consisting of a two-story porte cochère with Italian marble; conference room; Village Tavern, a full-service restaurant; and a water fountain that spans the entire rear side of the building.

 The 91-percent-occupied property is home to a variety of tenants, including Jones Lang LaSalle, Jeffries, First Bank, Capital South, Development Management and Michelin. 

Scot Humphrey

Situated on 5.34 acres at 4201 Congress Street, the Rotunda Building is located at the intersection of Congress Street and Carnegie Boulevard directly across from the 1.6 million-square-foot SouthPark Mall, a prestigious regional retail destination.  

The building is in the heart of the SouthPark submarket, a mixed-use, urban environment with a live-work-play atmosphere five miles south of Charlotte’s Uptown area.

The HFF investment sales team representing the seller was led by senior managing director Ryan Clutter, director Scot Humphrey and associate director Chris Lingerfelt.

HFF’s debt placement team representing the buyer was led by director Brent Bowman and senior managing director Travis Anderson.

 ”The Rotunda Building is a trophy asset located in Charlotte’s prestigious SouthPark submarket,” Clutter said.  “Iconic assets of this nature continue to be sought after from investors seeking an attractive mix of stability and modest upside. 

“We believe more core and core-plus office assets like Rotunda will come to market in Charlotte and the Carolinas over the next 36 months as investor attention to these opportunities continues to be strong.  The draw of institutional capital to the Carolinas region is at an all-time high and we see this continuing for the foreseeable future.” 

“The high-quality nature of Rotunda, a diversified tenant roster and its location within the booming SouthPark submarket attracted substantial lender interest from both life insurance companies and banks,” Bowman added.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Director, Public Relations

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.equuspartners.com..

HFF closes $81.45 million recapitalization of eight-building Long Island, NY medical office portfolio

Andrew Scandalios

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $81.45 million recapitalization of Stony Brook Technology Center, an eight-building medical office portfolio totaling 261,824 square feet in the Long Island community of East Setauket, New York.

HFF represented TRITEC Real Estate, and procured the partner, a fund advised by UBS Real Estate & Private Markets. 

Completed between 1987 and 2007, the portfolio is located within a master-planned business park proximate to several large universities and hospital groups, including Stoney Brook University, in Eastern Long Island.  Stony Brook University is one of the key tenants in the 97-percent-leased portfolio, occupying more than 65 percent of the buildings.

The HFF team representing TRITEC was led by senior managing directors Andrew Scandalios and Jose Cruz and assisted by senior managing director Michael Gigliotti.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Director, Public Relations

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.tritecre.com

 or follow TRITEC on Twitter at @TRITEC_RE.

www.ubs.com/realestate.

HFF closes sale of and secures financing for Holiday Inn Orlando SW – Celebration Area near Walt Disney World Resort

  

Holiday Inn Orlando SW – Celebration Area, Florida

 

Michael Weinberg

ORLANDO, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and secured acquisition and renovation financing for Holiday Inn Orlando SW – Celebration Area, a 444-room, limited-service hotel near the grounds of Walt Disney World Resort in Orlando, Florida.

HFF marketed the property on behalf of the seller, Eastgate Hospitality Investors, LLC, for which HFF secured financing for the property in 2012.  Palm Holdings purchased the asset free and clear of debt and unencumbered of management.

Additionally, working on behalf of the new owner, HFF placed the five-year, floating-rate loan with BMO Harris Bank.  

Proceeds of the financing will be used to acquire the hotel and immediately implement a property improvement plan, which includes a complete overhaul of the lobby, common areas and guestrooms. 

Holiday Inn Orlando SW – Celebration Area is an official Walt Disney “Good Neighbor Hotel” at 5711 W. Irlo Bronson Memorial Highway in Kissimmee, 2.5 miles from Walt Disney World Resort (Disney), which welcomes more than 50 million visitors a year. 

Preston Reid

Additionally, the hotel is less than two miles east of Interstate 4, which provides access to Universal Studios Orlando, SeaWorld Orlando, LEGOLAND and the Orlando Premium Outlets.  

The hotel comprises two eight-story guestroom towers and a single-story section between them that was all completed in 1984 and 1985 and then redeveloped into a Holiday Inn in 2007. 

The Holiday Inn Orlando SW – Celebration Area features an outdoor pool, kid’s pool and whirlpool; fitness center; business center; game room; playground; Trattoria Café with an onsite Pizza Hut Express; lobby bar; 4,000 square feet of function space and scheduled transportation to the theme parks. 

The HFF team was led by senior managing director Michael Weinberg and associate directors Preston Reid and Matthew Sand.

“BMO Harris offered a flexible financing solution that fit well with our client’s business plan for the hotel,” Sand said.  “We were excited to help Palm Holdings continue to grow its presence in the Orlando market.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Director, Public Relations

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

http://www.palm-holdings.com