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LONDON, UK / ACCESSWIRE / August 15, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for HFF, Inc. (NYSE: HF) ("HFF"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=HF. The Company announced on August 12, 2017, that it has procured $339 million in financing for Five Point Gateway, a four-building office/R&D campus in Irvine, California. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Borrower Acquiring the assets through Sale Leaseback with Broadcom Corp.
HFF worked solely on behalf of the borrower, a newly formed limited liability company, comprising a subsidiary of Five Point Holdings, LLC (FPH) holding a majority of the equity interest, and two other investors.
The borrower is acquiring the assets through a partial sale leaseback with investment-grade tenant, Broadcom Corporation. A five-year floating-rate loan was provided through Starwood Property Trust Inc. Broadcom Corporation is the project developer after it acquired the land for the purpose of building a corporate campus.
Five Point Gateway in Final Construction Stage
The four-building office, Five Point Gateway, is in the final stage of construction and will comprise more than one million square feet of office/R&D space.
The office is designed by renowned architecture firm Gensler. The buildings are located at 15101, 15131, 15161, and 15191 Alton Parkway and are part of the larger 72-acre Great Park Neighborhoods® master-planned community in the Irvine Spectrum submarket. The campus consists of a huge open park space with attractive landscaping, best-in-class new construction, and extensive amenities.
Broadcom plans to leaseback 15101 and 15191 Alton Parkway, totaling 640,944 square feet, or 64% of the total portfolio, on a triple-net basis. Other two buildings, 15131 and 15161, confirmed tenants will include Lennar Corporation and Five Point, with the remaining 232,223 square feet currently available for lease.
HFF team is constituted of Senior Managing Director, Kevin MacKenzie; Director, Lee Redmond; and Associate, Peter Thompson.
Lee Redmond stated:
"We are excited to have had the opportunity to advise Five Point and its partners on the acquisition of this best-in-class asset and source financing on their behalf. This transaction marks the beginning of Five Point's commercial operations in Irvine, and HFF is pleased to have been a part of this new endeavor."
Kevin MacKenzie mentioned:
"Starwood was able to differentiate themselves during the marketing process due to their ability to provide the most efficient pricing at optimal leverage with extremely flexible terms under a compressed time frame."
About HFF Inc.
Founded in 1982, Holliday Fenoglio Fowler, L.P. is a leading provider of commercial real estate and capital markets services to the commercial real estate industry in United States, United Kingdom, and Ireland. Holliday Fenoglio Fowler, together with its affiliate HFFS, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited are owned by HFF, Inc.
About Five Point
Headquartered in Aliso Viejo, California, Five Point is engaged in the designing and development of mixed-use, master-planned communities in coastal California. The Company is developing vibrant and sustainable communities in Orange County, Los Angeles County, and San Francisco County offering homes, commercial, retail, educational, and recreational elements.
Last Close Stock Review
HFF Inc.'s share price finished yesterday's trading session at $37.14, climbing 1.34%. A total volume of 217.14 thousand shares have exchanged hands, which was higher than the 3-month average volume of 162.75 thousand shares. The Company's stock price soared 20.55% in the last three months, 27.19% in the past six months, and 43.79% in the previous twelve months. Additionally, the stock surged 29.63% since the start of the year. Shares of the Company have a PE ratio of 16.80 and currently have a market cap of $1.45 billion.
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