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Finance
Posted: February 7, 2013
HFF arranges $19.1 million financing for sale-leaseback of a Greenwich, Conn. office property
HFF has arranged $19.1 million in acquisition financing for a 32,000 s/f office property.
Working on behalf of the borrower, Winn Properties, HFF placed the 10-year fixed-rate loan with Cantor Commercial Real Estate. The loan proceeds were used to acquire the property in a sale-leaseback transaction.
The property is 100% leased to the national headquarters of an institutional equity trading corporation.
The HFF team representing Win Properties was led by senior managing director Michael Tepedino with real estate analyst David Fowler.
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.
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Finance
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Quick Hits
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Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
