ORLANDO—Denholtz Associates has secured a $29.05 million refi for a five-property, 649,586-square-foot portfolio located in Florida and Illinois. HFF arranged a fixed-rate loan through Natixis Real Estate Capital. Loan proceeds were used to repay the existing mortgage.
The portfolio includes four assets in suburban Chicago: 1050-1138 Tower Lane in Bosenville; 747 N. Church Road in Elmhurst; 2625 Butterfield Road in Oak Brook; and 625-701 Executive Drive in Willowbrook. One asset is in Winter Park, Florida: 7129 University Boulevard.
The portfolio is 84% leased to 117 different tenants. Fifty-six percent of the portfolio is office space, 30% is flex space, and 13% is warehouse/industrial space.
“The portfolio's diverse tenancy and strong suburban locations made this an attractive assignment,” says HFF director Michael Klein. “Natixis believed that the subject properties had strong leasing velocity and was confident in Denholtz's experience and track record with these assets.”
Denholtz is a privately-held development, investment and management company active in office, industrial, flex, and retail real estate. Headquartered in Matawan, NJ, Denholtz also maintains offices in Atlanta, Chicago, and throughout Florida and New Jersey.
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