HFF Arranges $296 Million in Financing for a Multi-Property Class A Office
SAN FRANCISCO -- January 2, 2013
HFF announced today that it has arranged $296 million in financing for a
10-property, Class A office portfolio totaling 1.6 million square feet in San
Francisco, Washington, D.C., Charlotte, Houston and Boston.
HFF worked on behalf of Clarion Partners to secure the portfolio loan through
Bank of America. The loan provided a combination of acquisition financing,
forward financing and refinancing for a term of seven years, with a
combination of fixed and floating-rate tranches providing optimum flexibility
across a geographically diverse pool of core-quality office assets.
The properties in the portfolio are: 600 California Street in San Francisco;
Morrocroft Centre in Charlotte; Westchase Park in Houston; 1111 19^th Street
in Washington, D.C.; and the most recent addition to the portfolio, the Fort
Point office portfolio in Boston’s Seaport District. The Fort Point portfolio
is comprised of: 33-41 Farnsworth Street, 34 Farnsworth Street, 44 Farnsworth
Street, 332 Congress Street, 374 Congress Street and 263 Summer Street.
The HFF team representing Clarion Partners was led by senior managing director
Bruce Ganong with regional support from senior managing directors Riaz Cassum
and Sue Carras, and associate director Chris Gandy.
“The Bank of America team provided a creative structure and flexible terms
that enabled Clarion Partners to match interest rate contracts with individual
asset strategies. A customized financing structure with the additional
flexibility of asset substitutions resulting in a win-win solution for both
borrower and lender,” said Ganong.
Clarion Partners has been a leading U.S. real estate investment manager for
over 30 years. Headquartered in New York, the firm has offices in major
markets throughout the U.S., in São Paulo, Brazil and London, England as well
as a presence in Mexico. With more than $25 billion in total assets under
management, Clarion Partners offers a broad range of real estate strategies
across the risk/return spectrum to its more than 200 domestic and
international institutional investors. More information about the firm is
available at www.clarionpartners.com.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned
by HFF, Inc. (NYSE: HF). HFF operates out of 20 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, equity placement, loan
sales, and commercial loan servicing. www.hfflp.com.
Bruce Ganong, (415) 276-6300
Senior Managing Director
Kristen Murphy, (713) 852-3500
Associate Director, Marketing
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