MATAWAN, NJ-Locally-based Denholtz Associates has refinanced $29.05 million in debt on a five-property office and industrial portfolio in Illinois and Florida.
The deal was announced by Florham Park, NJ-based HFF, which worked on behalf of Denholz to secure the five-year, fixed-rate loan through Natixis Real Estate Capital, Inc. of New York City.
The portfolio totals 649,586-square feet, consists of four properties in the Chicago area: 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. The Florida property is located at 7129 University Blvd. in Winter Park, FL.
The portfolio is 84% leased to 117 different tenants and contains 56% office space, 30% flex space and 13% warehouse/industrial space.
The HFF team representing Denholtz Associates was led by Senior Managing Director Jon Mikula and Director Michael Klein.
"The portfolio's diverse tenancy and strong suburban locations made this an attractive assignment," states Klein. "Natixis believed that the subject properties had strong leasing velocity and was confident in Denholtz's experience and track record with these assets."
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