Three-building portfolio is fully leased to Nestle USA, Inc. and spans Illinois, Georgia and Texas
Tampa, FL – February 9, 2012 – (RealEstateRama) — CBRE Capital Markets has arranged a $61 million loan refinance on a three-building portfolio fully leased to Nestle USA, Inc. Based in Tampa, CBRE Senior Vice President Michael Strober was joined by partners, Amanda Valenti and Donald Jennewein in representing the borrower, H&R REIT. CBRE secured financing with a 10-year term, 10-year amortization and a 4.5% interest rate through ING Investment Management. Financing closed February 1, 2012.
The portfolio comprises more than 2 million square feet of office/industrial space. The largest of the three buildings is an 860,939-square-foot industrial office/warehouse facility located at 800 Nestle Court in Dekalb, Illinois. The second largest is a 782,565-square-foot cross dock distribution warehouse at 1 Nestle Court in McDonough, Georgia and the third facility is a 524,252-square-foot industrial building located at 13600 Independence Parkway in Fort Worth, Texas. All three facilities are considered Class A and are 100% leased to Nestle USA, Inc.
H&R REIT is a Toronto Stock Exchange listed, open-ended Real Estate Investment Trust.
This transaction marks $311 million in loan originations for the CBRE Capital Markets team in Tampa as of first quarter 2012. Last week, CBRE announced a $250 million loan financing transaction on behalf of H&R REIT for their acquisition of Hess Tower in Texas. Strober was joined by CBRE Capital Markets professionals in Dallas and Houston to arrange the financing for Hess Tower.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.
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