DALLAS—HFF said Monday it had arranged post-acquisition financing for a portfolio of 154 net-leased convenience and gas station sites totaling 97.8 acres in the Northeast. Deal terms were not disclosed; the financing took the form of a five-year, floating-rate acquisition loan with 18 months' interest-only to a private real estate investment fund advised by Crow Holdings Capital–Real Estate. The loan was provided by a consortium of lenders, led by Capital One and BMO Harris.
The portfolio properties comprise 88 sites in New York state, 45 sites in Massachusetts and 11 sites in Connecticut. There are also seven sites in New Hampshire, two Rhode Island sites and one site in Pennsylvania. All 154 properties are subject to an absolute net lease for 20 years with a subsidiary of Petroleum Marketing Group, a leading jobber and distributor of petroleum products and operator of convenience stores.
HFF's debt placement team was led by Dallas-based senior managing director Andy Scott and associate director Michael George. Also headquartered in Dallas, Crow Holdings Holdings Capital–Real Estate closed on Crow Holdings Realty Partners VII this past December, capping it at $1.85 billion.
Since 1998, Crow Holdings Capital – Real Estate and CHC-affiliated entities have managed eight private equity real estate funds with equity capital totaling approximately $5.48 billion, with which nearly $15.4 billion in assets have been acquired or developed. For further insights into private investors' role in the net lease sector, be sure to attend the “Investment and Transaction Outlook” panel at RealShare Net Lease West this coming Wednesday.
Hear from the net lease sector's top leaders as they explore current and emerging trends and provide their outlook for continued success in this space. Join us at RealShare Net Lease West on Nov. 1 and 2, where you'll meet the top owners, investors, brokers and financiers in the net lease and sale-leaseback community. Learn more.
DALLAS—HFF said Monday it had arranged post-acquisition financing for a portfolio of 154 net-leased convenience and gas station sites totaling 97.8 acres in the Northeast. Deal terms were not disclosed; the financing took the form of a five-year, floating-rate acquisition loan with 18 months' interest-only to a private real estate investment fund advised by Crow Holdings Capital–Real Estate. The loan was provided by a consortium of lenders, led by
The portfolio properties comprise 88 sites in
HFF's debt placement team was led by Dallas-based senior managing director Andy Scott and associate director Michael George. Also headquartered in Dallas, Crow Holdings Holdings Capital–Real Estate closed on Crow Holdings Realty Partners VII this past December, capping it at $1.85 billion.
Since 1998, Crow Holdings Capital – Real Estate and CHC-affiliated entities have managed eight private equity real estate funds with equity capital totaling approximately $5.48 billion, with which nearly $15.4 billion in assets have been acquired or developed. For further insights into private investors' role in the net lease sector, be sure to attend the “Investment and Transaction Outlook” panel at RealShare Net Lease West this coming Wednesday.
Hear from the net lease sector's top leaders as they explore current and emerging trends and provide their outlook for continued success in this space. Join us at RealShare Net Lease West on Nov. 1 and 2, where you'll meet the top owners, investors, brokers and financiers in the net lease and sale-leaseback community. Learn more.
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