HFF Announces $102.5M Financing for 13-Building Office Portfolio in Colorado Springs
DALLAS--(BUSINESS WIRE)--Jan 23, 2019--Holliday Fenoglio Fowler, L.P. (HFF) announces $102.5 million in financing for a 13-building suburban office portfolio totaling 1,020,551 square feet in Colorado Springs, Colorado.
The HFF team worked on behalf of the borrower, Crescent Real Estate LLC, to secure the five-year, floating-rate acquisition loan through Bank of America Merrill Lynch.
The portfolio comprises some of Colorado Springs’ highest quality and most strategically located office buildings in the market’s North and Southeast Airport submarkets. At 75 percent leased overall, the portfolio’s rent roll consists of a wide range of industry sectors, including aerospace, government and military/defense contractors, technology and healthcare. Major credit tenants include Northrop Grumman, Army National Guard, GSA, The Spectranetics Corporation, Booz Allen Hamilton and United Healthcare, among others.
The HFF debt placement team representing the borrower included senior managing director Trey Morsbach, managing director Jim Curtin and director Leon McBroom.
About Crescent Real Estate LLC
Crescent Real Estate LLC (Crescent) is a real estate operating company and investment advisor, founded by Chairman John C. Goff, with assets under management and investment capacity of more than $4 billion. Through GP Invitation Fund I, the company acquires, develops and operates all real estate asset classes alongside institutional investors and high net worth clients. Crescent’s premier real estate portfolio consists of Class A and creative office, multifamily and hospitality assets located throughout the U.S. including The Ritz-Carlton, Dallas and the wellness lifestyle leader, Canyon Ranch®. For more information, visit crescent.com.
HFF and its affiliates operate out of 26 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190123005730/en/
CONTACT: Trey Morsbach
HFF Senior Managing Director
HFF Managing Director
HFF Director, Public Relations
KEYWORD: UNITED STATES NORTH AMERICA COLORADO TEXAS
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
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PUB: 01/23/2019 04:17 PM/DISC: 01/23/2019 04:17 PM