FLORHAM PARK, NJ – HFF announced today that it has secured a $29.05 million refinancing for a five-property, 649,586-square-foot portfolio located in Illinois and Florida.
HFF worked on behalf of Denholtz Associates to secure the five-year, fixed-rate loan through Natixis Real Estate Capital, Inc. Loan proceeds were used to repay the existing mortgage.
The portfolio is comprised of four assets in suburban Chicago: 1050-1138 Tower Lane in Bosenville; 747 N. Church Road in Elmhurst; 2625 Butterfield Road in Oak Brook; and 625-701 Executive Drive in Willowbrook; and one asset in Winter Park, Florida: 7129 University Boulevard. The 84 percent leased portfolio is leased to 117 different tenants and contains 56 percent office space, 30 percent flex space and 13 percent warehouse/industrial space.
The HFF team representing Denholtz Associates was led by senior managing director Jon Mikula and director Michael Klein.
“The portfolio’s diverse tenancy and strong suburban locations made this an attractive assignment,” said Klein. “Natixis believed that the subject properties had strong leasing velocity and was confident in Denholtz’s experience and track record with these assets.”
Denholtz Associates is a privately-held development, investment and management company active in office, industrial, flex and retail real estate. Headquartered in Matawan, New Jersey, Denholtz Associates has 100 employees and maintains offices in Atlanta, Chicago and throughout Florida and New Jersey.
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.