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| Fontaine Business Park, Columbia, SC |
WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P.
(HFF) announces $18.2 million in financing for Fontaine Business Park, a
four-building office portfolio totaling 253,038 square feet in Columbia, South
Carolina.
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| Jamie Leachman |
The HFF team worked on behalf of the borrower, Diversified Real
Estate Ventures, to secure the five-year, floating-rate loan through Bridge
Investment Group. Loan proceeds were used to refinance the property.
Situated within the Columbia MSA, Fontaine Business Park is
surrounded by more than 800,000 residents and various employers that are
attracted to the state’s second largest MSA.
Positioned less than four miles from two major
highways, I-20 and I-77, Fontaine Business Park provides excellent access to
the greater area and the entire mid-Atlantic region.
Columbia’s position as the state capital
provides a tangible insulation for the entire real estate market and the
surrounding office market. Given its proximity to the state capital the
property has historically been around 90 percent leased due to the constant
demand from state and local government tenants.
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| Cory Fowler |
The HFF debt placement team representing the borrower consisted of
senior director Jamie Leachman, senior director Cory Fowler and
associate Drake Greer.
Diversified Realty Ventures is a privately held real estate investment and
advisory firm based in Bethesda, MD.
The firm maintains flexible
investment criteria to respond quickly to changing market conditions,
specializing in assets that are undervalued due to operational or financial
distress.
Since its founding in 2010, DRV has amassed a portfolio of 1.1
million square feet of office, flex, and retail space as well as over 625 units
of multifamily and student housing, in the acquisition and development of over
$150 million worth of diversified properties.
For more
information, please contact:
KRISTEN MURPHY
HFF Director, Public
Relations
(617) 338-0990
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