LOUISVILLE—HFF has just secured a $57.5 million refinance for an eight-property office portfolio in suburban Louisville. The firm worked on behalf of Ascent Properties, and placed the floating-rate loan with New York-based Prime Finance Partners. Dale Boden, who runs BF Capital, a local real estate and private equity investment firm, controls Ascent. He plans to use the loan to recapitalize the portfolio and provide leasing costs for its ongoing stabilization. The funds were also used to help acquire one of the buildings.
The portfolio consists of: Bluegrass Business Center I and II; Plainview Point I, II and II; Thornton Park Plaza; Atrium Center; Plainview Center; and NTS Center. The portfolio has about 780,000-square-feet. Currently, what Ascent calls a mix of high-quality, institutional tenants lease about 86% of the space. The properties all sit within suburban office submarkets along the I-64 corridor east of Louisville's CBD. NTS handles the leasing and property management duties.
The HFF debt placement team representing the borrower was led by director John Ahmed and senior analyst Rex Cruz.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
