Press Release brought to you by HFF

$33.745 million financing for 133 West 52nd Street in Midtown Manhattan arranged by HFF

10/19/2015

NEW YORK, NY – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $33.745 million in financing for 133 West 52nd Street, a six-story commercial condominium in Midtown Manhattan.

Working on behalf of the borrower, MRP Realty and Long Wharf Real Estate Partners LLC, HFF placed the three-year, floating-rate loan with a mid-size bank.  Loan proceeds were used to acquire the property and have been allocated towards leasing available space.

133 West 52nd Street is a newly-completed 55,744-square-foot commercial condominium located at the base of a brand new, 46-story luxury condominium conversion.  The property, known as a ‘building within a building’ is comprised of six floors, with its ground floor lobby adjacent to the residential lobby for 135 West 52nd Street and a retail condominium soon to be occupied by BLT Steak restaurant.  This unique property will be marketed to a wide variety of tenants from corporate users to creative technology firms as well as retail, showroom, and medical office, and will feature a baseline design allowing flexibility to accommodate a specific tenant or group of tenant’s desired look and feel.  The property fronts 6 1/2 Avenue at 133 West 52nd Street and is situated between 6th and 7th Avenues in Midtown close to Rockefeller Center, Central Park and Columbus Circle.

The HFF debt placement team representing the borrower was led by senior managing director Andrew Scandalios and associate director Christopher Peck.

About MRP Realty
MRP Realty (“MRP”) is a leading owner, operator and developer of office, industrial, retail and residential real estate.  Headquartered in Washington, D.C., MRP focuses on strategic investment, development and management in both high barrier-to-entry and high growth gateway markets within the Mid-Atlantic, with offices in Washington, D.C., New York City and Philadelphia, Pennsylvania.  MRP provides to its institutional capital partners a full array of real estate services including: acquisition/disposition, development/construction management, property management, asset management and financial reporting services.  Since MRP’s inception in 2005, the company has deployed nearly $3 billion in total capitalization, with another $2+ billion of active residential, office, mixed-use and industrial projects underway.  MRP’s combined development assets total more than 16 million square feet, with an additional 5+ million under management.

About Long Wharf Real Estate Partners LLC
Long Wharf Real Estate Partners LLC is a Boston-based private equity real estate manager focused exclusively on value-added investments in the U.S.  Investing on behalf of institutional clients, including public and corporate pension funds, endowments, foundations and family offices, Long Wharf utilizes a broad-based value-added strategy targeting opportunities in multiple property sectors and markets across the country.  Including experience prior to becoming an independent firm in 2011, Long Wharf has invested in real estate transactions totaling nearly $9 billion in gross capitalization since 1995.  For more information please visit www.lwrep.com.

About HFF
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.

10/19/2015 - 17:00

Source

HFF

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