$114 Million Financing for Six-Property Multi-State Industrial Portfolio Arranged by HFF

PORTLAND, Ore.--(BUSINESS WIRE)--The Portland office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged $114 million in financing for six industrial distribution facilities totaling 4.7 million square feet located in Georgia, Illinois, Ohio, Pennsylvania and Texas.

HFF senior managing director Lloyd Minten worked exclusively on behalf of Cardinal Industrial Real Estate Services to secure the loan, which will be included in an upcoming CMBS securitization and serviced by HFF. Loan proceeds were used to acquire the portfolio from Dividend Capital Trust who acquired these assets as part of the iStar portfolio sale, which was closed by HFF Securities and financed by HFF.

Completed in the mid-to-late 1990’s, the portfolio consists of “strategically-located” bulk distribution centers in Georgia, Illinois, Ohio, Pennsylvania and Texas.

“The entire process from the initial call from the borrower to the closing took only 31 days, which emphasized the commitment by the borrower and lender, who worked diligently to complete this transaction under significant time constraints. The lender’s planned securitization of this loan underscores the improvements in the capital markets through the reemergence of the CMBS market,” said Minten.

With the acquisition, Cardinal Industrial increased their portfolio of single tenant industrial assets located throughout the United States to approximately 13.4 million square feet.

HFF (NYSE: HF) operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers 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.