Holliday Fenoglio Fowler, L.P.(HFF) has arranged $114 million in financing for six industrial distribution facilities, which will be included in an upcoming CMBS securitization.
HFF senior managing director Lloyd Minten worked exclusively on behalf of Cardinal Industrial Real Estate Services to secure the loan. The proceeds were used to acquire the portfolio from Dividend Capital Trust who acquired these assets as part of the iStar portfolio sale, which was closed by HFF Securities and financed by HFF.
The portfolio consists of "strategically-located" bulk distribution centers in Georgia, Illinois, Ohio, Pennsylvania and Texas.
"The lender's planned securitization of this loan underscores the improvements in the capital markets through the reemergence of the CMBS market," said Minten.
With the acquisition, Cardinal Industrial increased their portfolio of single tenant industrial assets located throughout the United States to approximately 13.4 million square feet.