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HFF senior managing director Stuart Salins represented the seller in the transaction.
The 19 loans range in size from approximately $2 million to $7.5 million, with an aggregate face amount of approximately $78.5 million. Approximately 40% of the loans have a coupon of less than 5.5%. The loans are secured by retail centers, industrial/warehouse and office buildings, a mobile home park and multi-housing properties located in 11 states.
The loans were sold to one institutional investor at pricing that ranged between a modest discount to a slight premium over par.
"The loans are well-underwritten and well-performing and the sale was motivated by a desire of the seller to slightly rebalance its portfolio," said Salins.
HFF (NYSE: HF | Quote | Chart | News | PowerRating) operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales and commercial loan servicing. www.hfflp.com.
SOURCE: HFF
HFF Senior Managing Director Stuart M. Salins, 312-528-3678 ssalins@hfflp.com or HFF Associate Director, Marketing Kristen M. Murphy, 713-852-3500 krmurphy@hfflp.com
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