Century Freeway Distribution Center Receives $9.3 Million Financing Arranged by Holliday Fenoglio Fowler.Business Editors/Real Estate Writers DALLAS--(BUSINESS WIRE)--Aug. 20, 2002 The Dallas office of Holliday Fenoglio Fowler, the nation's leading commercial mortgage banking firm, has arranged a $9.3 million financing for Century Freeway Distribution Center, a 323,374-square-foot, single-story industrial building located in Lynwood, California Lynwood is a city in Los Angeles County, California, United States of America. As of 2007, the city had a total population of 72,984. Lynwood is located near South Gate and Compton in the southern portion of the Los Angeles Basin. . Joseph N. Hevey, Senior Director of Holliday Fenoglio Fowler's Dallas office, arranged the ten-year, fixed-rate financing on behalf of a client advised by LaSalle Investment Management, through Prudential Life Insurance Company of America, a life company lender. Built in 1999, Century Freeway Distribution Center is located at 2700 East Imperial Highway in the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. suburb of Lynwood. This industrial property is 100% leased to Pacer International Pacer International NASDAQ: PACR is a U.S. based holding company with operations in non-asset based third-party logistics and intermodal freight transportation services. The company's subsidiary Pacer Stacktrain pioneered the use of "double-stack" rail services. and is located in the strong Alameda corridor The Alameda Corridor is a 20 mile (32 km) freight rail "expressway"[1] owned by the Alameda Corridor Transportation Authority (AAR reporting marks ATAX sub-market of Los Angeles. Hevey said, "Prudential provided a low leverage, ten-year fixed rate, interest only loan. The favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. interest rate environment allowed the borrower to place a low leverage permanent loan on the property at a sub 7% rate." With 19 offices nationwide, Holliday Fenoglio Fowler is one of the country's largest capital intermediaries. 2001 was a record-breaking year for the firm, with more than $12.2 billion in business volume. Since 1998, the firm's debt, equity/structured finance and investment sales transactions have totaled more than $51.5 billion. |
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