HFF managing director John Rose worked exclusively on behalf ofthe borrower, ING Clarion Partners. HFF tells GlobeSt.com that theycannot provide any further information at this time regarding thespecifics of the deal, but Rose tells GlobeSt.com that what isinteresting about the deal was the fact that the portfolio was inseveral different states, and that even with some of the assetsbeing damaged by the recent hurricane in Houston, "the lender andborrower were able to overcome those issues and move forward, basedon the relationship they had." Although he couldn't disclose whothe life insurance company was, he said that it is ING Clarion'sand the life insurance company's third transaction together. INGClarion did not respond to queries by deadline.

The portfolio totals 2.2 million sf and is 93% occupied overall.Properties include: Madison Industrial Park Building A in Tampa,Florida; 34 Englehard in Monroe, New Jersey; 888 Doremus in Newark;Columbia Corporate Park Buildings 1 & 2 in Portland, OR; 2755Regent Boulevard in Dallas; Stafford Distribution Buildings 1-3 inStafford, TX; and Port 225 A, B and C in Pasadena, TX.

Rose tells GlobeSt.com that the loan application was signed onSept. 5th and closed on the 30th of September. "That time frame isnot the norm," he says," but it does tell you a bit about the lifeinsurance company that placed the loan and shows the goodrelationship that the borrower and the lender have." From a lifeinsurance standpoint, Rose says, one of the largest challenges intoday's environment is alternative investments and "where they putit. Given the fact that the equity market has turned on them, andeverybody else, and corporate paper spreads have widened, they havehad to adjust their prices as well," he says. "That, combined withthe fact that we are in the fourth quarter, makes it a verychallenging time. ...But having said that, there is capital outthere."