Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $11.1 million in acquisition financing for a fully-leased, four-building industrial portfolio totaling 409,851 square feet in the metropolitan Atlanta area.
HFF worked on behalf of the borrower, Citimark, Inc. (Citimark), to place the seven-year, fixed-rate loan with 40/86 Mortgage Capital, Inc. This acquisition signals Citimark entry into the Atlanta market, forwarding Citimark’s strategy of purchasing infill Class A and B small bay industrial properties in primary markets in the United States.
The portfolio comprises Airport Plaza 2 and 3 at 470 and 472 Plaza Drive in College Park near Hartsfield International Airport; Atlanta Northeast 11 at 4164 Northeast Expressway in Doraville, which is located in the Interstate 85 Northeast submarket at the intersection of Interstate 85 and Interstate 285; and Royal Industrial Center 3 at 5025 North Royal Atlanta Drive in Tucker, also in the Interstate 85 Northeast submarket. The buildings were all developed between 1970 and 1985, have clear heights ranging from 18’ to 24’ and were 100 percent leased at acquisition.
The HFF debt placement team representing the borrower was led by director Ken Martin.
“Atlanta serves as the industrial hub of the southeast, and as Citimark continues to grow its industrial presence nationally, it’s important that we establish and grow a presence there,” said Citimark CIO Tim Hoffman. “The fundamentals in Atlanta remain strong, and we feel there will continue be opportunities to grow our footprint in the market.”
HFF’s Industrial Group is extremely active in the southeastern United States, having closed more than 100 investment sales and debt placement transactions involving more than 84 million square feet in the last five years.
About Citimark, Inc.
Citimark is a full service real estate investment and construction company based in Indianapolis, Indiana. Since 1982 Citimark has acquired, developed, managed, leased and constructed office and industrial property throughout the Midwest. Citimark leverages a vertically integrated operating platform and a long history of succeeding through decades of real estate cycles to pursue both principal investing opportunities and by providing the Company’s full scope of services its clients. Learn more at http://www.citimarkinc.com.
About HFF
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
