PHILADELPHIA-HFF reports it has arranged $127.5 million in financing for Media, PA-based The Henderson Group‘s 37-property industrial, office, and retail portfolio based here and in Melbourne, FL.
Loan proceeds are refinancing existing debt on the properties and consolidating ownership under The Henderson Group founder Wilbur Henderson, HFF reports. The Florham Park, NJ-based firm worked on behalf of The Henderson Group and Trinity Capital Associates in placing the three-year, floating-rate loan with Natixis Real Estate Capital LLC.
The portfolio consists of 2.3 million square feet within 33 industrial facilities, three office buildings and one retail property. Overall occupancy is 87.5% and the three largest tenants in the portfolio are Northrop Grumman, Brokers Worldwide and Harris Corporation.
The majority of the properties are industrial facilities located in either the Folcroft East Business Park or Folcroft West Business Park near the Philadelphia International Airport. The Melbourne assets consist of flex and warehouse facilities located on or near the grounds of Melbourne International Airport close to the Kennedy Space Center.
The HFF team representing The Henderson Group and Trinity Capital Associates was led by managing director Jim Cadranell and associate director Michael Lachs.