Holliday Fenoglio Fowler has arranged $400.6 million in acquisition financing for a 56-building light industrial portfolio totaling approximately 3.1 million square feet in Westchester and Fairfield counties.
The portfolio consists of Cross Westchester Executive Park in Elmsford, Mid-Westchester Executive Park in Hawthorne, South Westchester Executive Park in Yonkers and Stamford Executive Park in Connecticut. According to an HFF statement, the portfolio has maintained consistent occupancy of over 90 percent for the past 20 years.
HFF worked on behalf of the borrower, a joint venture partnership managed by Robert Martin Co., to place the floating-rate loan with Bank of America. 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.
The deal was first announced last month, when it was valued at $487.5 million.