PORTLAND, OR – HFF announced today that it has arranged $38 million in financing for a seven-property industrial and flex office portfolio totaling nearly 1.06 million square feet in California, Washington, Colorado and Missouri.
HFF worked on behalf of a joint venture between a subsidiary of a fund managed by Oaktree Capital Management, L.P. (“Oaktree”) and ScanlanKemperBard Companies, to arrange an adjustable-rate loan through Latitude Management Real Estate Investors, Inc. Proceeds from the loan were used to acquire the portfolio.
The portfolio is 52 percent leased with individual property details listed below:
Bradshaw Business Park Sacramento, CA; 342,000 SF; Warehouse/Flex
Sunrise Business Center Rancho Cordova, CA; 57,600 SF; Flex
Fruitridge Industrial Center Sacramento, CA; 53,238 SF; Flex
Andover Executive Park Tukwila, WA; 181,163 SF; Flex
West Valley Distribution Center Kent, WA; 138,296 SF; Warehouse/Flex
Inverness Business Park Englewood, CO; 83,058 SF; Office/Flex
Holmes Corporate Center I & II Kansas City, MO; 202,391 SF; Office
The HFF team representing the borrower was led by senior managing directors Lloyd Minten and Paul Brindley and managing director Tom Wilson.
Oaktree is a leader among global investment managers specializing in alternative investments, with $76.4 billion in assets under management as of June 30, 2013. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high-yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has more than 750 employees and offices in 13 cities worldwide. For additional information, please visit Oaktree’s website at www.oaktreecapital.com.
ScanlanKemperBard Companies (“SKB”) was established in Portland, Oregon in 1993 with the intent of capitalizing on the real estate experience, skills and vision of its founders. Since that time, SKB has become one of the region’s leading real estate merchant banking firms specializing in projects ranging in total capitalization from $5 million to $100 million located throughout the western United States.
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, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.