Federated Refinances Florida Industrial Portfolio
HFF officials state that the six-property portfolio is 100% leased on a triple-net basis.
MIAMI—The Federated Companies has refinanced a six-property industrial portfolio of properties totaling nearly 600,000 square feet located in northern, central and southern Florida.
The locally-based national real estate investment group secured a 10-year, $26.5-million fixed-rate loan issued by a national life insurance company. Loan proceeds were used to refinance the existing debt on the portfolio that totals 599,207 square feet.
The refinancing deal was arranged by HFF, which worked on behalf of the Federated Companies in the transaction. The six properties are located in the Jacksonville, Orlando, Tampa and the Miami/Fort Lauderdale metro areas.
HFF’s debt placement that worked on the transaction included senior director Scott Wadler and analyst Celine Comeau.
HFF officials state that the six-property portfolio is 100% leased on a triple-net basis and is part of a larger portfolio of industrial assets Federated Companies has strategically assembled as part of a long-term investment strategy.
The six-building portfolio includes: 2906 Corporate Way, Palmetto; 1405 SW 8th St., Pompano Beach; 815 S. 56th St., Tampa; 5515 W. 5th St., Jacksonville; 3402 Mercy Drive, Orlando and 2101 W. 33rd St., Jacksonville.