$129.42 Million Refinancing Arranged by HFF for 14 Office Properties in Northern New Jersey and Southern Connecticut.FLORHAM PARK, N.J. -- The New Jersey office of HFF HFF Hochschule für Fernsehen und Film München (Germany) HFF Heartland Film Festival HFF Hardy Fern Foundation HFF Half Forward Flank (football position) HFF Horizontal Flute Factor (Holliday Fenoglio Fowler, L.P.) announced today that it arranged a $129.42 million refinancing for a 14-property portfolio in northern New Jersey and southern Connecticut that is part of Hampshire Partners Fund VI. HFF managing director Jon Mikula and associate director Michael Klein worked exclusively on behalf of The Hampshire Companies to secure the three-year, adjustable-rate loan through a bank syndication led by Webster Bank. Sovereign Bank is one of the major syndicators. The Hampshire Companies is recapitalizing a portion of the fund's assets, replacing a current line of credit and rebalancing Rebalancing The process of realigning the weightings of one's portfolio of assets. Notes: For example, if your portfolio's proportion of stock has grown too large for your intended assets weightings and risk tolerance, you might rebalance by selling some stock and putting the rest of the portfolio with the new loan. The portfolio is comprised of 1,350,190 square feet of rentable space that is part of Hampshire Partners Fund VI, which includes six office buildings (877,100 square feet), five flex buildings (167,216 square feet) and three industrial buildings (305,874 square feet). The New Jersey properties include: Montvale Business Center in Montvale, Florham Park Business Center in Florham Park, 10 Knightsbridge Drive, 80 Kingsbridge Drive, 81 Kingsbridge Drive, 140 Centennial, 275 Centennial and 240 Centennial in Piscataway, 2 Commerce Drive in Cranbury, 15-01 and 18-01 Pollitt Drive in Fair Lawn, and 675 Central Avenue in New Providence. The Southern Connecticut properties are: Wright International Financial Tower in Bridgeport and Preston Hill Office Park in Middlebury. The portfolio has an average occupancy of 68.3% and notable tenants include Royal Bank of Scotland
The Royal Bank of Scotland Plc (Scottish Gaelic: Banca Rìoghail na h-Alba , GSA (1) (Global mobile Suppliers Association, Sawbridgeworth, U.K., www.gsacom.com) A membership organization of suppliers of GSM products and services. Its goal is to promote GSM as the worldwide mobile communications standard. See GSM Association and GSM. , Cablevision, Alcatel-Lucent and TD BankNorth. The Hampshire Companies is a full-service, private real estate investment fund manager based in Morristown, New Jersey Morristown is a town in Morris County, New Jersey, United States. As of the United States 2000 Census, the town population was 18,544. Its estimated population in 2004 was 18,842. It is the county seat of Morris CountyGR6. with a portfolio of more than 15 million square feet of commercial space and assets valued at more than $1.5 billion. Additional information on The Hampshire Companies and its funds is available online at www.hampshireco.com. HFF (NYSE NYSE See: New York Stock Exchange :HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal and commercial loan servicing. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion