DALLAS, TX - July 31, 2014 - HFF announced today that it has secured $175 million in financing for a seven-property, 4.99 million-square-foot industrial portfolio located in California, Texas and Mississippi.
HFF worked exclusively on behalf of the borrower, a fund managed by Clarion Partners, to secure a fixed-rate loan through TIAA-CREF. Loan proceeds were used to retire existing debt on the portfolio.
The seven-property portfolio includes two assets in San Bernardino, California; four in the Dallas, Texas metropolitan area; and one in Southaven, Mississippi. Constructed between 2001 and 2005, the portfolio is 94.1 percent leased overall.
The HFF team representing the borrower was led by senior managing director John Rose.
The fund specializes in real estate investments in the industrial sector and seeks to invest in value-added industrial properties in the United States.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter at twitter.com/hff.
JOHN W. ROSE
HFF Senior Managing Director
KRISTEN M. MURPHY
HFF Associate Director, Marketing
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Source: HFF, Inc. via GlobeNewswire