HFF announced today that it has arranged financing totaling $607 million for 24 properties totaling more than five million square feet and 3,499 units in nine states.
HFF worked on behalf of a pension fund advised by Invesco, RREEF Real Estate and TA Associates Realty to secure the financings. The loans were placed with M&T Realty Capital Corporation (Fannie Mae), Principal Global Investors and Bank of America.
M&T Realty Capital Corporation (Fannie Mae) provided eight loans totaling $237,000,000. Principal Global Investors provided nine loans totaling $183,650,000 and Bank of America provided seven loans totaling $185,970,000.
The properties are comprised of eight multi-housing assets totaling 3,499 units, two office assets totaling 304,286 square feet, five retail centers that total 1,821,803 square feet and nine industrial properties totaling 3,052,149 square feet. Overall, the portfolio is 90 percent occupied. Properties are located in major markets in California, Florida, Georgia, Massachusetts, Pennsylvania, Rhode Island, Texas, Virginia and Washington.The HFF team representing the pension fund and its advisors was led by senior managing directors Eric Tupler and Mike Kavanau. HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 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, advisory services, structured finance, private equity, loan sales, and commercial loan servicing. www.hfflp.com.