Regions Northeast | New York
CBRE Capital Markets Arranges $45M in
Acquisition Financing for Hampshire Partners
July 7, 2008

CBRE’s Capital Markets group in New York City have secured a $45 million loan on behalf of Hampshire Partners Fund VII L.P. for the financing of certain assets of Fund VII’s portfolio. The loan, financed by Capital Bank N.A., was structured at a floating rate over LIBOR on an interest-only basis. The financed assets consisted of six properties comprised of a mix of retail, office and industrial. The properties are located at 39 Robinson Road in Lodi, N.J.,  361-371 South Street, Newark, N.J., 401 East Fayette, Baltimore, MD, 2501 Riva Road, Annapolis, MD., 475 Willard Avenue, Newington, Conn., 5700 Audubon, Richmond, Va. Encompassing 1,182,415-square-feet, the portfolio’s combined occupancy at closing was 83 percent. The occupancy breakdown consisted of four fully leased properties, one at 68 percent and one vacant property. Hampshire Partners plans to make significant capital investment in the properties for the purposes of renovating, repositioning and executing its leasing strategy. The portfolio consists of such national tenants as Verizon Communications Inc. and International Contractors Services L.L.C.

 
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