CHICAGO, IL - HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has recently consummated the sale and/or recapitalization of a number of under-performing and financially challenged commercial real estate loans, properties and REO ("Special Assets") on behalf of several financial institutions. The transactions include a $33 million portfolio of small balance loans on Class C multifamily properties throughout the U.S., a $20 million non-performing condo construction loan in South Florida, a $50 million recapitalization of a hotel, and a $94.5 million senior note on a highly leveraged office building in California. All of such transactions were on behalf of commercial bank and insurance company clients.
HFF's Special Assets teams, located in HFF's 18 offices throughout the U.S., provide transaction and advisory services for individual assets and portfolios for all property types including retail, hotel, condominiums, land, multifamily, office, student housing, industrial warehouse and self storage assets.
"As in past periods of market stress in the early and late 1980s and 1990s, HFF's transaction professionals are able to draw on time-tested experience as well as HFF's $220 billion capital markets track record over the past 10 years to formulate capital markets solutions focusing on the client's needs and objectives for Special Assets," stated executive managing director and managing member John H. Pelusi, Jr. "HFF has an extensive track record serving the capital markets needs of commercial banks, insurance companies, special servicers of CMBS loans, REITs, structured finance lenders and thrifts, as well as opportunity and private equity funds."
"HFF's transaction professionals average over 15 years' industry experience including many who have prior experience managing loan workouts and REO sales with major banks, insurance companies, FDIC and RTC," added executive managing director Manny de Zárraga.
"The need for capital markets solutions, especially for retail and hotel loans and properties, will become even more acute in 2009 and beyond and HFF is well-positioned to serve this growing need," added senior managing director and head of HFF's loan sales group Stuart M. Salins.
HFF (NYSE:HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully-integrated national capital markets platform including property and loan sales, debt placement, structured finance, private equity, and commercial loan servicing. Real estate securities services are provided through HFF Securities, a wholly owned affiliate of HFF.
Source: Business Wire