600 California Street San Francisco

600 California Street, San Francisco

HFF Arranges Over $900 Million in Loans for Multi-Property Portfolios

HFF arranged $607 million in financing for 24 properties spread over nine states on behalf of a pension fund advised by Invesco, RREEF Real Estate and TA Associates Realty. In addition, the firm arranged a $296 million financing for a 10-property class-A office portfolio containing buildings in San Francisco, Washington, D.C., Charlotte, Houston and Boston.

MUT Realty Capital Corp. (Fannie Mae), Principal Global Investors and Bank of America provided funding for the $607 million transaction. The financed properties include eight multifamily assets containing 3,499 units, two office assets containing 304,286 sq. ft. of space, five retail centers totaling 1.8 million sq. ft. and nine industrial properties totaling 3.05 million sq. ft. The properties are located in California, Florida, Georgia, Massachusetts, Pennsylvania, Rhode Island, Texas, Virginia and Washington and as a portfolio, are 90 percent occupied.

HFF’s Eric Tupler and Mike Kavanau negotiated this transaction.

In the second transaction, Bank of America provided funding for a $296 million loan, which was arranged on behalf of Clarion Partners. The loan combined acquisition financing, forward financing and refinancing for a seven-year term, with a combination of fixed and floating rate tranches.

The office portfolio in question contains a total of 1.6 million sq. ft. of space and includes 600 California Street in San Francisco, Morrocroft Centre in Charlotte, Westchase Park in Houston, 1111 19th Street in Washington, D.C. and the Fort Point office portfolio in Boston.

HFF’s Riaz Cassum, Sue Carras and Chris Gandy negotiated this transaction.

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