MIAMI—CMBS activity is springing up early this year in these parts. HFF just secured $13.5 million in acquisition financing for a 10-property single-tenant retail portfolio located in multiple states.
HFF represented A. Duda & Sons to place the 10-year, fixed-rate CMBS loan through Prudential Mortgage Capital Company. HFF director Chris Drew along with director Brandon Chavoya and director analyst Kim Flores lead the team.
Collectively 100% occupied, the portfolio features triple-net assets. Specifically, the portfolio includes five Dollar Generals, four Christian Brothers Automotive Centers, and one Walgreens.
“This financing shows that CMBS debt is readily available for net leased assets located in secondary and tertiary markets for top tier sponsors,” Drew tells GlobeSt.com. The properties are located in various cities in Alabama, Georgia, Tennessee, and Texas.
Duda is a Florida-based company with additional operations in California, Texas, Arizona, Georgia and Michigan. Duda is a family-owned company with assets include agricultural lands and a variety of commercial properties.