Trio of Mid South Logistec Center Buildings Receive $28.5 Million in Financing Arranged by Holliday Fenoglio Fowler.Business Editors LA VERNGE, Tenn.--(BUSINESS WIRE)--May 13, 2002 A portfolio of three industrial buildings located within the Mid South Logistec Center in La Vernge, a southeast submarket sub·mar·ket n. A geographic, economic, or specialized subdivision of a market. adj. Being below what is usual in a particular market: submarket wages; submarket interest rates. of Nashville, has received $28.5 million financing arranged by Holliday Fenoglio Fowler, L.P., one of the nation's leading commercial mortgage banking firms. Bob Bradley
A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. , Ozburn Properties LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Ozburn-Hessy Storage Co. GE Financial Assurance, a life insurance company, provided the first mortgage loan. Built between 1998 and 2000, the buildings total 1.52 million square feet and represent one-half of the square footage of Mid South Logistec Center's existing six buildings; a seventh building of 750,000 square feet is under construction. The Class A industrial park is 80-percent leased to nationally known tenants, including Hewlett Packard, Walden Books, Allegiance allegiance, in political terms, the tie that binds an individual to another individual or institution. The term usually refers to a person's legal obligation of obedience to a government in return for the protection of that government, although it may have reference Health Care, Jet Equipment, Ryder Logistics and Ozburn-Hessy Logistic lo·gis·tic also lo·gis·ti·cal adj. 1. Of or relating to symbolic logic. 2. Of or relating to logistics. [Medieval Latin logisticus, of calculation . The transaction initially included a construction/permanent facility for the seventh building, but was later redefined to address only the three existing buildings, Bradley said. "We were successful in locating several construction/perm programs which would fix today's interest rate with 75bp premium (a forward premium for a long-term loan), involving multiple disbursements over a 24-month period," he said. "However, with the uncertainty in the corporate markets, the developer did not wish to pursue this more restrictive structure." Holliday Fenoglio Fowler is one of the country's largest capital intermediaries in the commercial real estate industry. 2001 was a record-breaking year for the firm, with more than $12.2 billion in business volume. Since 1998, the national firm's debt, equity/structured finance and investment sales transactions have totaled more than $47.7 billion. NorthStar Capital Access is a newly formed commercial mortgage brokerage firm headquartered in Knoxville, Tenn. NorthStar Capital Access generally calls on Holliday Fenoglio Fowler to assist on its larger transactions, and the two firms have jointly participated in approximately $100 million of debt placements. Property photo available upon request. |
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