HFF arranges $20.35 million acquisition financing for 2-building industrial portfolio in Kansas and Kentucky
DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $20.35 million in acquisition financing for a portfolio consisting of two newly-built, 100-percent-leased, single-tenant industrial buildings totaling 643,386 square feet in Kansas and Kentucky.
HFF worked on behalf of the borrower, a partnership between EverWest Real Estate Partners and Olympus Ventures, to arrange the seven-year, fixed-rate loan through a regional bank.
The portfolio consists of 9525 Woodend Road in Edwardsville, Kansas, and 1260 Aviation Boulevard in Hebron, Kentucky. Completed in 2014, the Class A, 369,786-square-foot Woodend Road property is 100 percent leased to Alphabroder, a sportswear manufacturer. The one-building warehouse and distribution facility is a cross-docked building that is part of a two-building development in Edwardsville, a suburb less than 15 miles west of Kansas City, Kansas. Located on 23 acres, the asset is less than a mile from Interstate 435 and within five miles of Interstate 70, the primary east-west highway that connects Denver to St. Louis.
The one-building Aviation Boulevard property has 273,600 square feet and was completed in 2015. One hundred percent leased to UPS Supply Chain Solutions, the Class A distribution center is situated on 16 acres in the Cincinnati suburb of Hebron. The property is less than three miles from the Cincinnati/Northern Kentucky International Airport and provides access to Interstate 275.
The HFF debt placement team representing the borrower was led by senior managing director Eric Tupler and real estate analyst Matt Gangaware.
About EverWest Real Estate Partners
EverWest Real Estate Partners, LLC, headquartered in Denver, Colorado, is a privately held real estate investment management and operating company, creating significant capital appreciation for investors through strategic acquisition, development, capitalization, repositioning and management of commercial real estate assets. For more information, visit www.everwest.com.
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.