SAN FRANCISCO, CA – HFF announced today that it has arranged
$296 million in financing for a 10-property, Class A office portfolio totaling
1.6 million square feet in San Francisco, Washington, D.C., Charlotte, Houston
and Boston.
HFF
worked on behalf of Clarion Partners to secure the portfolio loan through Bank
of America.
The loan provided a
combination of acquisition financing, forward financing and refinancing for a
term of seven years, with a combination of fixed and floating-rate tranches
providing optimum flexibility across a geographically diverse pool of
core-quality office assets.
 |
| Riaz A. Cassum |
The
properties in the portfolio are: 600 California Street in San Francisco;
Morrocroft Centre in Charlotte; Westchase Park in Houston; 1111 19th Street in
Washington, D.C; and the most recent addition to the portfolio, the Fort Point
office portfolio in Boston’s Seaport District.
The Fort Point portfolio is comprised of: 33-41 Farnsworth
Street, 34 Farnsworth Street, 44 Farnsworth Street, 332 Congress Street, 374
Congress Street and 263 Summer Street.
The
HFF team representing Clarion Partners was led by senior managing director Bruce
Ganong with regional support from senior managing directors Riaz Cassum
and Sue Carras, and associate director Chris Gandy.
 |
| Sue Carras |
“The Bank of America team provided a creative structure and
flexible terms that enabled Clarion Partners to match interest rate contracts
with individual asset strategies. A
customized financing structure with the additional flexibility of asset
substitutions resulting in a win-win solution for both borrower and lender,”
said Ganong.
Clarion Partners has been a leading U.S. real estate investment manager
for over 30 years. Headquartered in New York, the firm has offices in major
markets throughout the U.S., in S͠ão Paulo, Brazil and London, England as well
as a presence in Mexico.
 |
| Chris Gandy |
With more than
$25 billion in total assets under management, Clarion Partners offers a broad
range of real estate strategies across the risk/return spectrum to its more
than 200 domestic and international institutional investors. More information about the firm is available
at www.clarionpartners.com.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
