HFF closes sale and secures financing for two Duluth, Georgia Class A office buildings
ATLANTA, GA – August 11, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale and secured financing for Sugarloaf VI and VII, two Class A office buildings totaling 161,183 square feet in Duluth, Georgia.
HFF marketed the property on behalf of the seller and procured the buyer, TerraCap Management, Corp. Additionally, HFF arranged the 66-month, floating-rate acquisition loan on behalf of the new owner through Principal Global Investors.
Sugarloaf VI and VII are located within the Business Park at Sugarloaf, a master planned park of approximately 500,000 square feet of Class A office space in Gwinnett County. The park is across from the prestigious Sugarloaf Country Club, within one mile of Interstate 85 and 12 miles north of Interstate 285 in northeast Atlanta. Built in 2005, Sugarloaf VI and VII are 94.4 percent leased to a diverse tenant mix comprising Horizon Software, Asbury Automative Group, Gallagher Bassett Services and Wiss Janney Elstner Associates.
The HFF investment sales team representing the seller was led by managing director Ralph Smalley, senior managing director Ryan Clutter and associate director Kelly Kuykendall.
HFF’s debt placement team was led by managing director Gregg Shapiro.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 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.