News: Financial Digest

HFF arranges $6m financing for Sacred Heart University building

The Westport office of Holliday Fenoglio Fowler, L.P. (HFF) hast arranged a $6 million refinancing for 101 Oakview Dr., a 43,540 s/f office building that is fully-leased to Sacred Heart University. HFF managing director Al Epstein and director Christine Riniti worked exclusively on behalf of 2M-101 Oakview Partners, LLC to secure the 10-year, fixed-rate loan through GE Real Estate Business Property. The property is owned by an investment group know as 2M Partners, which owns properties in Southern Conn. and FL., including two other buildings in the city at 2285 and 2415 Reservoir Ave. "No transaction had an easy go of it these past three months. Despite high asset quality and having SacredHeart University as the tenant, this property was no exception," said Epstein. "101 Oakview Dr. was well received by the financial community, but in the tumultuous capital markets it was GE Business Property that stood apart from other lenders. It made a competitive portfolio loan using GE's own funds and was not dependent on securitizing and selling the loan." Originally completed in 1979, the property has gone through a $1.6 million renovation since Sacred Heart University's administrative offices took occupancy in 2000. 101 Oakview Dr. is situated in an office campus setting, which includes nine office buildings and three flex buildings that total in excess of 700,000 s/f. The campus is in southern part of the city close to the Merritt Pkwy. and Westfield Shopping Town.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary