LOS ANGELES – HFF announced today that it has arranged nearly $27 million in debt and joint venture equity for 5491 East Francis, a 406,714-square-foot industrial facility in Ontario,.
HFF worked on behalf of the sponsor, Cohen Asset Management, to arrange joint venture equity through a domestic life insurance company, and to secure $13.75 million of permanent fixed-rate debt through a national life insurance company. Loan and equity proceeds were used to acquire the property via a sale leaseback.
5491 East Francis is situated in an “A” location of the Inland Empire West in the City of Ontario just minutes from the intersection of the Interstate 10 and Interstate 15 freeways. The property is fully leased to a single-tenant.
The HFF team representing the borrower was led by senior managing director Paul Brindley and senior real estate analyst Jeff Sause.
“We have had a long standing relationship with both Cohen and their joint venture partner and were confident that a strong relationship would be formed between the two,” said Brindley. “Our efforts to secure the joint venture equity and debt for this asset are part of our growing emphasis on industrial product both in Southern California and nationally.” HFF recently added the team of Brett Tremaine, Ryan Martin and Anthony Brent from BlackRidge Real Estate Group to the Los Angeles and Orange County offices to focus on industrial capital markets transactions primarily in the western United States.
Cohen Asset Management, Inc. is a private commercial and industrial real estate firm. Established in 1992 and strategically headquartered in Southern California with a regional office in Northern New Jersey, Cohen Asset Management, Inc. is a proven, national real estate owner and operator with a primary focus on the industrial real estate sector. For more information please visit www.cohenasset.com.
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.