HFF arranges $6m refinancing for 43,540 s/f office building

The Westport office of Holliday Fenoglio Fowler, LP 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 known as 2M Partners, which owns properties in southern Connecticut and Florida, including two other buildings in Trumbull at 2285 and 2415 Reservoir Ave. 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 Trumbull close to the Merritt Pkwy. and Westfield Shopping Town at Trumbull. This location has a large labor pool, access to reasonable housing and lower cost office space (relative to central and lower Fairfield County), and it is home to many corporations, including Unilever, Health Net, Helicopter Support Inc. and Cooperative Educational Services.