$100.2 million financing secured by HFF for 3.9 million-square-foot industrial portfolio in Indianapolis
CHICAGO, IL – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $100.2 million in acquisition financing for an eight-property, Class A industrial portfolio totaling 3.9 million square feet in the Indianapolis metropolitan area.
HFF worked on behalf of the borrower, a joint venture between Biynah Industrial Partners, L.L.C. and Olympus Ventures, to place the 10-year, fixed-rate loan with an international life insurance company. HFF will service the loan, which was used to purchase the portfolio.
The institutional-quality assets were built between 1997 and 2013 and range in size from 282,000 to 1.3 million square feet with clear heights of 28’ to 32’. The portfolio is more than 95 percent leased to a roster of credit-rated tenants, including Sur La Table, OHL/GEODIS and the United States Postal Service. The eight buildings that comprise the portfolio are situated on a total of 209 acres on the western side of Indianapolis. The four Plainfield properties – 1100 and 1101 Whitaker Road, 2450 Stanley Road and 3100 Reeves Road – and three of the Indianapolis facilities – 7451 and 7452 Tempelhof Drive and 710 South Girls School Road – are proximate to Indianapolis International Airport, home of the second largest FedEx hub in the world. The Brownsburg facility, 901 East Northfield Drive, is located just off Interstate 74, which connects Indianapolis to the central Illinois, Iowa and Chicago markets.
The HFF debt placement team was led by managing director Matthew Schoenfeldt and director Ken Martin.
“This debt placement effort ranks among the most competitive in my two-decade career,” Schoenfeldt said. “The blue-chip life company lender who won the assignment stepped-up in impressive fashion, differentiating themselves with a combination of blockbuster terms and the smooth, seamless delivery on which they have built their impeccable reputation.”
About Biynah Industrial Partners, L.L.C.
Biynah Industrial Partners, L.L.C. (Biynah) is a Minneapolis-based real estate private equity firm that was founded in October of 2009. Since 1996, Biynah’s two principals have conducted in excess of $2 billion in commercial real estate acquisitions under different sponsorship. The firm is solely focused on making direct investments in industrial real estate located throughout the domestic United States and currently owns approximately nine million square feet of industrial property. Biynah’s clientele is comprised of a loyal group of high net worth investors, family offices and institutional joint venture partners seeking value-add/core-plus returns in this alternative investment class. Visit www.biynahpartners.com for more information.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.