Acquisition financing secured by HFF for 5-property Atlanta area office portfolio
DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured acquisition financing for a five-property office portfolio totaling 642,583 square feet in Atlanta, Marietta and Macon, Georgia.
Working on behalf of the borrower, CapRidge Partners, LLC, HFF placed the three-year, floating-rate loan with Bank of America Merrill Lynch. The loan was structured with an initial funding of $30.17 million.
The portfolio consists of 3920 Arkwright Road (Highridge Center) in Macon; 9040 Roswell Road (River Ridge), 1765 The Exchange and 1775 The Exchange in Atlanta; and 1775 West Oak in Marietta. Overall, the portfolio is 81.1 percent leased to tenants including Carestream Dental, MiMedx Group, Merrill Lynch, Xerox and Polycom, Inc.
The HFF debt placement team representing the borrower was led by director Jim Curtin and senior managing director Andy Scott.
About CapRidge Partners
CapRidge Partners is a value office investor and manager headquartered in Austin, Texas. CapRidge serves the major Texas markets along with select growth markets in the Southeast, Southwest and Mountain West. Founded in 2012 by Steve LeBlanc and Tom Stacy, two proven leaders in real estate, investments and commercial operations with nearly 40 years of combined experience, the company is dedicated to providing superior services to its investors and clients.
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.