Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured
$162 million in financing for a 13-building industrial portfolio
totaling 2.67 million square feet in North New Jersey.
HFF worked on behalf of the borrower, Hartz Mountain Industries, Inc.,
to place the 10-year, fixed-rate loan through Hartford Investment
Management Company, HIMCO. HFF is servicing the loan.
The 98-percent-leased buildings are located in Secaucus, Whippany, East
Hanover, Bayonne, Harsbrouck Heights, Harrison and North Bergen.
Additionally, the portfolio includes one industrial spec building
currently being constructed in Linden. The portfolio features six
percent office space.
The HFF debt placement team representing the borrower was led by senior
managing director Thomas Didio and real estate analyst Connor Milanaik.
“Hartford Investment Management Company was able to meet the borrower’s
required timeline to close the financing, which was very aggressive, and
the lender was able to save the borrower significant prepayment costs,”
About Hartz Mountain Industries, Inc.
Hartz Mountain Industries, Inc. is one of the largest private owners of
commercial real estate in the U.S. Hartz owns and manages a diversified
real estate portfolio, including first-class corporate offices,
warehouse and distribution facilities, hotels, multi-family
developments, retail centers, movie theaters and restaurants. The
portfolio includes approximately 235 properties comprising over 38
million square feet and a 225 acre land bank, primarily in New Jersey
and New York City. Recent acquisitions have expanded the footprint
nationally to Baltimore, Charlotte, Atlanta, Chicago, Austin and
Seattle. For more information, visit http://www.hartzmountain.com.
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.
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