LOUISVILLE—HFF has just secured a $57.5 millionrefinance for an eight-property office portfolio in suburbanLouisville. The firm worked on behalf of AscentProperties, and placed the floating-rate loan with NewYork-based Prime FinancePartners. Dale Boden, who runsBF Capital, a local real estate and private equityinvestment firm, controls Ascent. He plans to use the loan torecapitalize the portfolio and provide leasing costs for itsongoing stabilization. The funds were also used to help acquire oneof 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 about780,000-square-feet. Currently, what Ascent calls a mix ofhigh-quality, institutional tenants lease about 86% of the space.The properties all sit within suburban office submarkets along theI-64 corridor east of Louisville's CBD. NTShandles the leasing and property management duties.
The HFF debt placement team representing the borrower was led bydirector John Ahmed and senior analyst RexCruz.
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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.
