Press Release brought to you by HFF

$57 million financing for 1.4 million-square-foot manufacturing facility in Southern California arranged by HFF

09/17/2015

LOS ANGELES, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $57 million in senior financing for Century Business Center, a seven-building, 100-percent-leased industrial manufacturing facility totaling 1.4 million square feet in Hawthorne, California.

HFF worked on behalf of the borrower, Zelman Development Co., to place the 10-year, fixed-rate loan with AIG Investments. Loan proceeds were used to recapitalize the property.

Century Business Center is fully leased to Triumph Aviation Group, which produces fuselages for Boeing’s 747 passenger and freighter commercial jets, and SpaceX, the largest private space transport company in the world.  The center’s two main buildings total approximately one million square feet and provide a column-free work space with 35’ clear heights.  The other buildings serve as office space, hangers, cafeteria, medical office and physical plant services.  Additionally, the facility has more than 1,300 parking spaces and has rail access served by Southern Pacific Railroad.  Situated on 43 acres just off Interstate 105 at 3901 Jack Northrop Avenue adjacent to the Hawthorne Municipal Airport, the property is approximately three miles from Los Angeles International Airport and 21 miles from the Ports of Long Beach and Los Angeles.

HFF’s team was led by senior managing directors Paul Brindley and Anthony Brent, and managing director Ryan Martin.

“AIG's entrepreneurial approach allowed them to structure a transaction that allowed the borrower to buyout their partner and be positioned for the future with an attractive long-term financing,” Brindley said.

About Zelman Development Co.

Zelman Development Co. is a privately owned commercial real estate development company headquartered in Los Angeles, California.  Founded in the early 1960’s, the company develops and invests in varied real estate categories including industrial, and retail development and value-add opportunities.  For more information, visit zelman.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.

09/17/2015 - 18:45

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HFF

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