NAI Fortis Group Assists HFF in $32 Million Sale of Meidinger Tower in Louisville, Kentucky
ATLANTA, GA – Holliday Fenoglio Fowler, L.P. (“HFF”) and NAI Fortis Group announced today that the sale of Meidinger Tower was completed. Meidinger Tower is a 26-story, 331,172-square-foot, Class A office tower in downtown Louisville, Kentucky. The sale price was $32 million.
HFF marketed the property, along with locally-based NAI Fortis Group, on behalf of the seller, Torchlight Investors, based in New York City. In-Rel Properties purchased the asset free and clear of existing financing.
Meidinger Tower is located at 462 S 4th Street adjacent to Louisville’s premier retail and entertainment district, 4th Street Live!, In the heart of downtown Louisville. Renovated in 2006, the property is currently 97 percent leased to tenants, including Computershare, Mountjoy Chilton Medley, Cotiviti, River Road Asset Management and Seiller Waterman.
The HFF investment sales team representing the seller was led by managing director Ralph Smalley and senior managing director John Merrill. Mark Wardlaw and Lenisa Alvey led the sales process for NAI Fortis Group. “Louisville is a vibrant city with its own unique character combing aspects from both Midwestern and Southern cultural influences,” said Merrill. “As a result, Meidinger Tower, with its outstanding location within the heart of the city, was attractive to investors from throughout the Southeast and Midwest.”
About Torchlight Investors
Torchlight Investors provides investment management services to institutional clients seeking exposure to commercial real estate-related debt markets. Since its inception, Torchlight has acquired over $20 billion in commercial real estate debt investments - successfully managed portfolios through market cycles and has grown to a firm with over $4 billion of assets under management. Building upon Torchlight's deep knowledge of commercial real estate debt, Torchlight launched its distressed debt workout business in 1998 and is a nationally rated special servicer. For more information please visit www.torchlightinvestors.com/.
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). 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 sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit www.hfflp.com or follow HFF on Twitter @HFF.
About In-Rel Properties
In-Rel Properties is a privately held real estate investment firm which currently owns and manages approximately three-and-one-half million square feet of office and retail properties throughout the United States. The company is headquartered in Lake Worth, Florida and has regional offices in Birmingham, Memphis, and Oklahoma City. For more information visit: http://in-rel.com.