HFF announces $33.75M refinancing of 21-property retail portfolio in New York and Ohio
WASHINGTON, D.C. – November 27, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $33.75 million financing for a retail portfolio comprising 21 stand-alone retail buildings fully occupied by Wendy’s in the greater Rochester, New York, and Cleveland, Ohio, metro areas.
Working on behalf of FX Net Lease Holdings LLC, the HFF team placed the 18.5-year, fixed-rate loan with Allegiant Real Estate Capital LP.
The portfolio is triple-net-leased and totals 65,588 square feet of Wendy’s restaurants, the world's third-largest quick-service hamburger company. There are currently 6,098 Wendy’s restaurants in operation in North America. The portfolio buildings were completed between 1974 and 2005 and are situated on a total of 21.32 acres.
HFF’s debt placement team representing the borrower consisted of senior director Chris Hew, managing director Dan Martin and associate Evan Parker.
“The transaction comprises a portfolio of well-situated and leased assets, and we are pleased to have helped arrange a solution for FX Net Lease Holdings LLC,” Hew said.
Holliday Fenoglio Fowler, L.P. ("HFF"), a New York licensed real estate broker.
About FX Net Lease Holdings LLC
FX Net Lease Holdings LLC is a net lease real estate holding company that, together with affiliated entities, manages a portfolio of over 150 properties, principally in the restaurant and retail categories and located primarily in the Midwest and Northeast region. The principals of the company have been operating in this space for over 40 years.
HFF and its affiliates operate out of 24 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.