HFF facilitates $400.6 million in acquisition financing for portfolio

May 10, 2019 - Financial Digest

Stamford, CT Holliday Fenoglio Fowler, L.P. (HFF) has arranged $400.6 million in acquisition financing for a 56-building light industrial portfolio totaling 3.1 million s/f in Westchester County, NY, and Fairfield County, Conn.

HFF worked on behalf of the borrower, a joint venture partnership managed by Robert Martin Company, to place the floating-rate loan with Bank of America.

The portfolio comprises three light industrial parks in Westchester County, including Cross Westchester Executive Park (CWEP), Mid-Westchester Executive Park (MWEP) and South Westchester Executive Park (SWEP), along with Stamford Executive Park (SEP) in Connecticut. The properties are positioned in the New York metro area with access to major roadways, including I-287 and 95, and the Saw Mill and Sprain Brook Pkwy. 

Over the last 20 years, the portfolio has maintained consistent occupancy of over 90%, demonstrating the robust demand for light industrial space in the market. The portfolio will continue to benefit from increased industrial demand in markets that have notoriously difficult entitlement processes and extreme scarcities of developable land, limiting new supply.

The HFF debt placement team representing the borrower was led by executive managing director Mike Tepedino, senior director Peter Rotchford, director Scott Findlay and senior associate Jackie Ferrer.

“We were privileged to assist Robert Martin Company in the financing of its acquisition of these assets, which represent some of the best located industrial assets in Westchester and Fairfield Counties,” Tepedino said.

Headquartered in Elmsford, N.Y., Robert Martin Company, LLC (RMC) has been a leader in real estate investment, development and management for over 60 years. Over the course of its history, RMC and its affiliates have developed and acquired over 20 million s/f of real estate across every asset class.

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.

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