Search Results: hff

While deals may be slowing down, Holliday Fenoglio Fowler L.P. has arranged two deals–one for $85 million for the Boston Harbor Garage in Boston and one for $90 million refinancing for 401 West 14th St., a 62,000-square-foot retail and office building in Manhattan’s Meatpacking District. The Boston office of HFF handled the Boston Harbor deal. The 1,380-space parking garage with 30,000 square feet of street-level retail is located at 70 East India Road in downtown Boston, adjacent to the New England Aquarium and along the Rose Kennedy Greenway, a recently created boulevard with a series of parks linking several urban…

The Dallas office of Holliday Fenoglio Fowler L.P. has announced that it arranged a $140 million construction loan for 1800 Larimer (pictured). The building is a 496,000-square-foot Class A, Platinum LEED pre-certified office development in Denver, Colo. The 22-story office tower is slated for completion in 2010. It is approximately 70 percent pre-leased to tenants including Xcel Energy, Frederick Ross Company and Citywide Bank. HFF senior managing director Trey Morsbach and associate director Clint Corn worked exclusively on behalf of Westfield Development Partners to secure the 42-month, adjustable-rate loan through Wachovia Bank. Westfield Development Partners is the development arm of…

A financing package valued at $72.1 million has been put in place for the 371,400-square-foot office building at 550 West Washington in Chicago. The borrower, Beacon Capital Partners L.L.C.’s Beacon Capital Strategic Partners IV fund, has owned the Class A asset since 2006 when it acquired a 2.4 million-square-foot, four-property former Trizec office portfolio from Blackstone for about $500 million. Landesbank Hessen-Thuringen Girozentrale (Helaba) provided 550 West Washington’s financing in the form of a five-year loan at a fixed rate of 5.84 percent, which Beacon used to pay off an existing loan on the property. Situated in Chicago’s West Loop…

New York City-based iStar Financial Inc. has taken a single-source $960 million loan against a portfolio of 34 triple-net-leased single-tenant properties. Holliday Fenoglio Fowler L.P. (HFF) arranged the adjustable-rate, interest-only loan through GE Real Estate.   “Normally a publicly traded, investment grade REIT such as iStar would just borrow unsecured,” Janet Krolman (pictured), an HFF director, told CPN today. “But that market is pretty tough right now, and the most cost-effective way to raise capital is by doing a secured financing such as this.” The portfolio loan has been cross-collateralized and cross-defaulted. “A cross collateralized pool gives the lender more security…

A 152,500-square-foot office building in Washington, D.C., has come under new ownership, courtesy of a transaction valued at $76 million. Sumitomo Corp. of America took the fully-leased debt-free property off the hands of The Bernstein Cos.A 12-story structure with 8,500 square feet of ground level retail, 1750 K was originally developed in 1970 and sits in the city’s central business district about three blocks from the White House. Law firm Wiley Rein L.P. heads the six-business tenant roster, occupying nearly 132,400 square feet under a lease that expires at the close of June 2014. With the closing of the deal,…

Pension fund giant TIAA-CREF has acquired the Park Evanston, a 283-unit, 24-story, multi-family high-rise in downtown Evanston, Ill. The seller was Chicago-based John Buck Co.Located about 10 miles north of downtown Chicago, the property was completed in 1997. It also includes about 39,000 square feet of street-level retail space leased to Whole Foods, among other tenants.The property is currently 97 percent occupied. According to a real estate broker familiar with the market, the property probably commanded in excess of $100 million. Evanston is a close-in northern suburb of Chicago notable for the presence of Northwestern University and posh housing near…

Several programs sponsored by the former Triple Net Properties, now known as Grubb & Ellis Realty Investors L.L.C., have put the Class A, 523,000-square-foot Congress Center in Chicago up for sale. Holliday Fenoglio Fowler L.P. will be handling the marketing.A source familiar with the building told CPN that Triple Net is its first owner, having bought the building for $136 million in January 2003 from Development Resources Inc. shortly after it was completed. The 16-story building is being sold subject to existing financing. Congress Center (pictured), at 525 W. Van Buren St., has 16 stories of office space and is…

The speculative office development at 901 K Street (pictured), in Washington, D.C.’s CBD, has gotten a $104 million construction loan, according Holliday Fenoglio Fowler L.P., which arranged the financing. The structure, under development by Carr Properties, will have a total of 261,000 square feet of space. HFF’s Bill Asbill, Bob Donhauser Cary Abod worked exclusively on behalf of Carr Properties to secure the 36-month loan with a consortium of banks. The facility is co-led by Wells Fargo Bank National Association as administrative agent and PNC Bank National Association as syndication agent. The bank group also includes US Bank National Association…

In the hot Houston market, Chase Merritt and joint venture partner Pacific Coast Capital Partners L.L.C. have taken its second asset in the region with the 424,000-square-foot mixed-use Four Corners in Houston for an undisclosed price. In November, the joint venture acquired West Loop I and II, two Class A office buildings totaling 314,000-square-feet, located in Houston’s Bellaire submarket. “Historically, Houston has been a strongly cyclical market, because of its ties to the energy industry,” Chad Horning, president & CEO of Chase Merritt, told CPN in November. “But more recently, that’s been mitigated by economic diversification, and the internationalization of…

Artery Plaza, a 276,000-square-foot office structure in Bethesda, Md., has just come under new ownership. Building tenant the Artery Group L.L.C. sold the Class A property to The JBG Cos. in a $135 million transaction. The 11-story Artery Plaza (pictured) carries the address of 7200 Wisconsin Avenue, placing it on a highly coveted stretch in Bethesda just a few minutes outside of Washington, D.C. Accompanies by an 800-space parking facility, the office building was developed in 1986 and today, is 94 percent leased to a roster of tenants that includes law firm Linowes & Blocher, PNC Financial, University Research, commercial…