Printer-friendly version NEW YORK, NY - March 27, 2014 – HFF announced today that it has arranged a $20 million refinancing for a three-property suburban office portfolio totaling 175,579 square feet in Hauppauge, New York.
HFF worked on behalf of the borrower, TRITEC Real Estate Company, to secure the permanent fixed-rate loan through New York Community Bank (“NYCB”).
The portfolio is a combined 91.3 percent leased to a variety of tenants including Verizon, Esurance, MedSave USA and an affiliate of the lender, NYCB. Individual property details are listed below:
Number of Tenants
49 Wireless Boulevard
125 Kennedy Drive
50 Engineers Road
The HFF team representing the borrower was led by director Michael Gigliotti.
“TRITEC has displayed an impressive ability to attract high-quality tenants to these properties and maintain occupancy throughout an extended period of time,” said Gigliotti. “New York Community Bank has awarded the owners with an attractive permanent financing.”
“This was a solid team effort from all sides,” said Robert Kent of TRITEC. “Vince Giovinco of NYCB was willing to work hard to make this deal happen in a timely manner and on very competitive terms. Michael Gigliotti was the catalyst to completing the underwriting and term sheet. Once Michael was involved the deal moved very quickly. There are a lot of loan products and lenders out there from CMBS to on book lenders. Michael helped guide the process and lead us to a great loan with NYCB. All sides are very pleased.”
Founded in 1986, TRITEC Real Estate Company—comprising TRITEC Development Group, LLC, TRITEC Building Company, Inc., TRITEC Asset Management, Inc. and TRITEC Capital, LLC—has established itself as a leader among New York commercial real estate companies, with a decades-long track record of successfully acquiring, developing, constructing, financing, leasing, and managing real estate projects. For more information on TRITEC please visit www.tritecre.com or follow TRITEC on Twitter at www.twitter.com/tritec_re.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.