ATLANTA, GA– HFF announced today that it has arranged $130 million in financing for an 11-property, 2.9 million-square-foot industrial portfolio located in five states.
Working on behalf of Industrial Developments International, Incorporated (IDI), HFF placed a $99.8 million, three-year, floating-rate first mortgage loan with Wells Fargo Bank. A $30.2 million mezzanine loan was sourced through AEW Capital Management.
The properties are comprised of Class A logistics and bulk distribution industrial facilities located near major interstates, airports and ports in their respective markets. Overall the portfolio is 79 percent occupied. Key tenants include Walgreen’s L’OREAL, Menlo Logistics, Red Bull, Valspar and ADT Security. Individual property details are listed below:
| Property | Address | Property Size | ||
| Greenspoint Business Center A | 11710 North Freeway, Houston, TX | 54,818 SF | ||
| Greenspoint Business Center B | 51 Esplanade Road, Houston, TX | 106,700 SF | ||
| Greenspoint Business Center D | 101 Esplanade Road, Houston, TX | 244,557 SF | ||
| Madison Business Center A | 4406 Madison Industrial Lane, Tampa, FL | 385,619 SF | ||
| Miramar Business Center F | 11650 Miramar Parkway, Miramar, FL | 63,010 SF | ||
| Miramar Centre A | 15701 SW 29th Street, Miramar, FL | 264,074 SF | ||
| Northport Industrial Center | 699 Kapkowski Road, Elizabeth, NJ | 342,705 SF | ||
| Park South Building E | 60 Logistics Boulevard, Walton, KY | 678,363 SF | ||
| Port Union Building J | 7390-7410 Union Centre, Fairfield, OH | 109,063 SF | ||
| Rock Run Business Park IX | 4101 Olympic Boulevard, Joliet, IL | 339,741 SF | ||
| Rock Run Business Park VIII | 4500 Rock Creek Boulevard, Joliet, IL | 352,500 SF |
The HFF team representing the borrower was led by senior managing director Mark Sixour.
IDI is one of the largest privately-held real estate property companies in North America focused exclusively on the industrial sector. The company, headquartered in Atlanta and serving 25 markets, provides development, investment management and property management and leasing services to corporations, property owners, investors, financial institutions and real estate service providers.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 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 www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.