Press Release brought to you by HFF

$83.45 million refinancing for 14-property office portfolio in New Jersey and Massachusetts arranged by HFF

09/10/2015

FLORHAM PARK, NJ – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged an $83.45 million refinancing for a portfolio of office assets totaling 14 buildings and 946,374 square feet in New Jersey and Massachusetts. 

HFF worked on behalf of the borrower, Normandy Real Estate Partners, to secure the floating-rate loan with JP Morgan Chase & Company and Rialto Capital.

Individual property details are listed below:

PropertySizeOccupancyKey Tenants
20 & 25 Independence Boulevard
Warren, NJ
Two Buildings
228,393 SF
89%Cello Partnership

999 Frontier Road
Bridgewater, NJ

One Building
40,565 SF
100%Philips Van Heusen
Flanders Business Park
129, 131, 133 & 135 Flanders Road
Westborough, MA
Four Buildings
105,500 SF
60%Cogentix Medical
Toshiba
Marlborough Technology Park
100-700 Nickerson Road
Marlborough, MA
Seven Buildings
571,916 SF
76.3%Cavcium, Tetra Tech
Sepaton

The HFF debt placement team representing the borrower was led by senior managing directors Jon Mikula and Riaz Cassum and managing director Porter Terry.

About Normandy Real Estate Partners
Normandy Real Estate Partners is a leading real estate operator and investment manager headquartered in Morristown, New Jersey with offices in Boston, New York City and Washington, D.C.  Normandy currently manages a series of discretionary real estate funds totaling approximately $1.5 billion of equity commitments.  Normandy’s existing portfolio includes over 15 million square feet of commercial assets, four hotels and numerous land development sites.  Normandy targets value added real estate investments in the gateway markets of Boston, Metro New York City, San Francisco, and  Washington, D.C. where opportunities exist to enhance value through creative repositioning, financial restructuring, intensive management, and capital improvements.  For more information, visit www.normandyrealty.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.

09/10/2015 - 20:30

Source

HFF

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