14A — February 14 - 27, 2014 — Mid Atlantic Real Estate Journal
www.marejournal.com
F INANCIAL D IGEST HFF also secures a $6.4m refinancing in Ohio
HFF arranges $5.4 million financing for single-tenant industrial facility
C ARTERET, NJ – HFF announced it has ar- ranged $5.4 million in financing for 700 Blair Rd., a 234,325 s/f, single-tenant, light industrial building in Carteret. HFF worked on behalf of the borrower, The Hampshire Companies , to secure the seven-year, fixed-rate financ- ing through Nationwide Real Estate Investments . HFF previously sold the prop- erty to The Hampshire Com- panies in August 2013. 700 Blair Road is fully leased to, and functions as
the corporate headquarters for Berjé Inc. The recently renovated property is situated on 12.41 acres close to I-95/NJ Turnpike, Newark Liberty In- ternational Airport and Port Elizabeth/Newark. The HFF team represent- ing the borrower was led by senior managing director Jon Mikula and director Michael Klein . “The property’s recent up- grades, proximity to an ex- tensive transportation infra- structure, and long term lease made this an attractive deal for Nationwide,” said Klein.
700 Blair Rd.
2720 Airport Dr.
In other news... HFF announced that it has secured a $6.4 million refi- nancing for Port Columbus Executive Park, a three-build- ing, 124,922 s/f office portfolio in Columbus, Ohio. HFF worked on behalf of the borrower, Bergman Real Estate Group , to secure the 10-year, fixed-rate loan through Natixis Real Estate Capital , Inc. Loan proceeds were used to replace existing financing on the property. HFF will also service the securitized loan. Port Columbus Executive Park is comprised of 2720, 2740 and 2760 Airport Dr., three office buildings that are 89% leased overall to 13 tenants including Lockheed Martin, AFLAC, Quest Diagnostics and Ohio State University. The properties are situated on near- ly 10 acres at the entrance of the Port Columbus International Airport, close to Interstate 670 about five miles northeast of downtown Columbus. The HFF team representing the borrower was led by director Michael Klein. “The borrower was seeking a fixed-rate loan that would enable them to maximize pro- ceeds and to take interest rate risk off the table for as long as possible,” said Klein. “Natixis was able to provide a structure that allowed Bergman Real Es- tate Group to meet their goals while minimizing the amount of structure required for future tenant roll.” ■
Made with FlippingBook - Online catalogs