Sale and financing of four-property Class A office portfolio in Miramar, Florida, arranged by HFF
MIAMI, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and arranged acquisition financing for Miramar Center I and III and Huntington Centre I and II, a four-property, Class A office portfolio totaling 373,902 square feet in Miramar, Florida.
HFF marketed the properties on behalf of the seller, MetLife, Inc. Starwood Capital Group purchased the portfolio. Vanderbilt Partners will be the property manager of the portfolio. Additionally, HFF worked on behalf of the buyer to place the acquisition loan.
The portfolio consists of four, four-story office buildings on both sides of Interstate 75 in western Miramar, which straddles the border between Miami-Dade and Broward counties.
The HFF investment sales team representing the seller was led by senior managing director Hermen Rodriguez, director Ike Ojala and associate director Jorge Portela.
The HFF debt placement team representing the buyer was led by senior managing directors Paul Stasaitis and Wally Reid and director Chris Drew.
“These high-quality suburban office buildings generated much interest among institutional real estate investors. There is a clear interest in acquiring Class A office buildings, in submarkets that have a nearby, well-educated workforce and excellent nearby transportation hubs,” said Rodriguez.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
About Starwood Capital Group
Starwood Capital Group is a private investment firm with a core focus on global real estate. Headquartered in Greenwich, Connecticut, the firm maintains 12 offices in six countries around the world and currently has more than 1,300 employees. Starwood Capital Group has raised more than $31 billion of equity capital since its inception in 1991, and currently manages over $44 billion in assets. The firm has invested in virtually every category of real estate on a global basis, opportunistically shifting asset classes, geographies and positions in the capital stack as it perceives risk-reward dynamics to be evolving. For more than two decades, Starwood Capital Group and its affiliates have successfully executed an investment strategy that involves building enterprises around real estate portfolios in both the private and public markets. Additional information can be found at starwoodcapital.com.
About Vanderbilt Partners
Vanderbilt Partners is a vertically-integrated real estate manager focusing on office investment opportunities throughout the Southeast, East and Midwest United States. Vanderbilt seeks opportunities in markets that exhibit rising demographics and/or economic trends in combination with limited new construction to drive yield growth.
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.