HFF announces $28M financing of Plantation Corporate Center I and II in South Florida
MIAMI, FL – February 26, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $28 million financing of Plantation Corporate Center I and II, a two-building, 239,616-square-foot office complex in the South Florida community of Plantation.
The HFF team worked on behalf of the borrower, a joint venture partnership between IP Capital Partners, LLC and a fund managed by Westport Capital Partners LLC, to secure the fixed-rate loan through a life insurance company. Loan proceeds were used to fund the acquisition of the property.
Plantation Corporate Center I and II comprises two, four-story office buildings situated on a 20.4-acre lakefront site at 1601 and 1600 SW 80th Terrace in the Jacaranda Park of Commerce. The property is prominently located adjacent to Interstate 595 with strong visibility in one of south Florida’s premier office submarkets. Interstate 595 is the main east west freeway in Broward County, which provides access to Fort Lauderdale, the Fort Lauderdale/Hollywood International Airport, the Sawgrass Expressway and Interstate 95.
HFF’s debt placement team representing the borrower included senior managing director Chris Drew and director Maxx Carney.
“This transaction is great example of excellent execution by a best-in-class real estate operator and a highly creative debt capital source,” said Drew.
“We are excited to enter into the booming greater Fort Lauderdale market and look forward to working with our operator to manage the new assets,” added Russel Bernard, managing principal, Westport Capital Partners LLC.
About IP Capital Partners, LLC
IP Capital Partners, LLC is a private real estate investment and asset management firm headquartered in Boca Raton, Florida. IP Capital was formed to focus exclusively on co-investing with various institutional and high net worth joint venture partners in office, retail and industrial real estate in the major growth markets of Florida.
About Westport Capital Partners LLC
Westport Capital Partners LLC is a real estate investment firm focusing on adding value to real estate and “hands-on” solutions to complex situations. Westport provides domestic and international real estate related investment opportunities to institutional and private clients. Through its various funds, the firm invests in a wide variety of distressed, opportunistic and core plus real estate assets. The firm has offices in Los Angeles, California, Wilton, Connecticut, Bozeman, Montana and London, England. For more information regarding Westport Capital Partners LLC, please visit westportcp.com.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.