Diverse portfolio offers investor plenty of upside.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.) has secured $75 million in financing for an industrial portfolio with 13 buildings located in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Pennsylvania and Ohio. Working exclusively on behalf of Heritage Management LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , HFF senior managing director Jon Mikula placed a 10-year, fixed-rate loan Fixed-rate loan A loan whose rate is fixed for the life of the loan. with LaSalle Bank LaSalle Bank Corporation is the holding company for LaSalle Bank N.A. and LaSalle Bank Midwest N.A. With $116 billion in assets, it is headquartered at 135 South LaSalle Street in Chicago, Illinois. , N.A. The loan, which will be serviced by HFF, has five years of interest-only followed by a 30-year amortization schedule and is being used to acquire the portfolio. The facility was structured with a B-note and provided prepayment flexibility as well as substitution rights. Heritage Management LLC, a private, opportunistic investment, development and management organization, focuses on commercial real estate and has a portfolio that includes four million square feet of retail, industrial and office space throughout the United States. The industrial portfolio totals 2,573,228 square feet and is 88% occupied. Tenants include Staples, Wegmans, Iron Mountain and Owens Corning. "This portfolio has outstanding diversification across industries, property types and markets, which greatly reduces portfolio risk," said Mikula. "The vacant space in the portfolio offers huge upside potential Upside potential The amount by which analysts or investors expect the price of a security may increase. upside potential The potential price or gain that may be expected in a security or in a security average, generally stated as the dollar by adding a possible $1 million plus in rental addition through lease-up." "As always, we appreciated the involvement of HFF in this acquisition," noted Jeffrey Greenberg, a principal with Heritage Management. "During the past year, Jon Mikula has worked with us on more than $250 million in acquisitions, dispositions and refinancings. In every case, he has provided responsive, skilled service that has enabled us to continue our growth strategy effectively and efficiently." |
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