{"id":1004167255,"date":"2017-02-22T06:12:44","date_gmt":"2017-02-22T14:12:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004167255"},"modified":"2022-12-07T17:57:47","modified_gmt":"2022-12-08T01:57:47","slug":"hff-arranges-financing-for-orlando-industrial-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hff-arranges-financing-for-orlando-industrial-portfolio\/","title":{"rendered":"HFF Arranges Financing for Orlando Industrial Portfolio"},"content":{"rendered":"<p><em>By Robert Demeter<\/em><\/p>\n<div id=\"attachment_1004165247\" style=\"width: 441px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Cypress-Industrial-Park-Orlando-Fla..jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004165247\" data-attachment-id=\"1004165247\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/orlando-flex-portfolio-trades-for-19m\/cypress-industrial-park-orlando-fla\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Cypress-Industrial-Park-Orlando-Fla..jpg\" data-orig-size=\"893,463\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Cypress Industrial Park, Orlando, Fla.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Cypress Industrial Park, Orlando, Fla.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Cypress-Industrial-Park-Orlando-Fla..jpg?w=893\" class=\"wp-image-1004165247\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Cypress-Industrial-Park-Orlando-Fla..jpg\" alt=\"Cypress Industrial Park, Orlando, Fla.\" width=\"431\" height=\"223\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Cypress-Industrial-Park-Orlando-Fla..jpg 893w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Cypress-Industrial-Park-Orlando-Fla..jpg?resize=300,156 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Cypress-Industrial-Park-Orlando-Fla..jpg?resize=768,398 768w\" sizes=\"auto, (max-width: 431px) 100vw, 431px\" \/><\/a><p id=\"caption-attachment-1004165247\" class=\"wp-caption-text\">Cypress Industrial Park<\/p><\/div>\n<p><strong>Orlando, Fla.<\/strong>\u2014HFF has arranged $12.9 million in acquisition financing for <a href=\"https:\/\/www.commercialsearch.com\/news\/orlando-flex-portfolio-trades-for-19m\/\" target=\"_blank\" rel=\"noopener\">Cypress Industrial Park<\/a>, a five-building light industrial portfolio totaling 256,838 square feet, located in southern Orlando, the company announced recently. The asset traded in January for approximately $19 million.<\/p>\n<p>HFF worked on behalf of the borrower, Denholtz Associates to place the 10-year, fixed-rate loan with Principal Global Investors. Senior managing directors Jon Mikula and Michael Weinberg and Managing Director Michael Klein led the debt placement team representing the borrower.<\/p>\n<p>Cypress Industrial Park consists of five single-story light industrial buildings built between 1987 and 1997. The buildings are divided into 28 units and range in size from 13,807 to 51,060 square feet. The units feature tilt-wall construction and have an average clear height of 19.6 feet and a 33 percent office finish. The property is 98.5 percent leased to a variety of tenants, including Total Logistics Services, Rock \u2018Em Apparel, Airstar, Hanger Prosthetics and more.<\/p>\n<p>Situated on 23.5 acres at 9500, 9535, 9603, 9777 and 9901 Satellite Blvd., Cypress Industrial Park offers convenient access to U.S. Route 441, State Route 528 and Florida\u2019s Turnpike. The portfolio, which is located in the Orange County Light Industrial market, is 5\u00a0miles east of Orlando International Airport and 7\u00a0miles east of the Orange County Convention center.<\/p>\n<p>\u201cThis acquisition is a perfect complement to Denholtz\u2019s growing Florida portfolio and its business model, which specializes in assets of this size with many tenants,\u201d Klein said in prepared remarks. \u201cPrincipal is very experienced in this market as both an investor and lender, so they quickly understood the deal, were able to provide terms that enabled the borrower to meet their return requirements, and were able to underwrite and close the loan within a relatively short closing period,\u201d concluded Klein.<\/p>\n<p><em>Image courtesy of Denholtz Associates<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cypress Industrial Park consists of five single-story light industrial buildings.<\/p>\n","protected":false},"author":49,"featured_media":1004165247,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21748,21742,1493],"tags":[33675,32792,34060,34062,34061,34073],"class_list":["post-1004167255","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-industrial","category-latest","category-orlando","tag-denholtz-associates","tag-hff","tag-jon-mikula","tag-michael-klein","tag-michael-weinberg","tag-principal-global-investors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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Her work has been cited by CBS News, Curbed, The Los Angeles Times, and Forbes among others. With an academic background in journalism, Eliza has been covering real estate since 2012. Before joining PropertyShark, Eliza was an associate editor at Multi-Housing News and Commercial Property Executive. She has also contributed extensively to CommercialEdge. 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