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HFF arranges $150 million financing for high-rise multi-housing property in Manhattan


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Copyright © Thomson Reuters 2013. All rights reserved.
2013-05-06 22:06:05 -

DALLAS, TX, May 6, 2013 - HFF announced today that it has arranged $150 million
in financing for the Madison Belvedere, a 50-story, 404-unit, Class A multi-
housing property near Manhattan's Madison Square Park.

HFF worked exclusively on behalf of a pension fund advised by Invesco to secure
the loan through Cornerstone Real Estate Advisers.

The Madison Belvedere is located at 10 East 29th Street between Fifth and
Madison Avenues three blocks north of Madison Square Park.  Built in 1999, the
property consists of studio, one- and two-bedroom units, which are 93 percent
leased.  Community amenities include a state-of-the-art fitness center,
concierge, landscaped plaza, private storage units and a furnished roof deck
that provides 360-degree views of Manhattan.

The HFF team representing the borrower was led by managing directors John Rose
and 
Steven Klein. Established in 1983, Invesco Real Estate manages $50 billion of real estate investments in both direct property and real estate securities.  With 334 employees worldwide, the group focuses on top-down market and property type fundamentals combined with bottom-up local market intelligence.  The firm manages approximately $30.1 billion in direct real estate portfolios and $19.7 billion in real estate securities portfolios.  Invesco Real Estate is an investment center of Invesco Institutional (N.A.), Inc., a subsidiary of Invesco Ltd. (IVZ) which is a publicly traded money management firm. HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 21 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.  www.hfflp.com. ### CONTACTS: JOHN ROSE HFF Managing Director (214) 265-0880 jrose@hfflp.com STEVEN KLEIN HFF Managing Director (212) 245-2425 sklein@hfflp.com KRISTEN MURPHY HFF Associate Director, Marketing (617) 338-0990 krmurphy@hfflp.com This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: HFF, Inc. via Thomson Reuters ONE [HUG#1699762]


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