Financing Arranged for Airport Corporate Center
Holliday Fenoglio Fowler reported Wednesday that it has arranged $79 million in financing for Airport Corporate Center, an 11-building, Class A office portfolio adjacent to Miami International Airport in Miami.
HFF worked on behalf of the borrower, a subsidiary of Hines REIT, to secure the 10-year, fixed-rate loan through John Hancock Life Insurance Company. Loan proceeds are retiring existing financing set to mature in March 2012.
The 11 buildings total 1.02 million square feet and consist of suburban office, single-story office and warehouse uses.
The property’s tenants include Norwegian Cruise Line, South Florida Employment and United HealthCare Services.
The HFF team representing the borrower was led by senior managing director Paul Stasaitis, who was assisted by directors Chris Drew and Ignacio Portuondo.
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