Holliday Fenoglio Fowler, L.P. (HFF) announces a $9.5 million refinancing for Browning Business Center, a 201,777-square-foot office building in Columbia, South Carolina.
The HFF team worked on behalf of the borrower, Mountain Crest Capital, to secure the 10-year, fixed-rate CMBS loan through Wells Fargo Bank, N.A.
Browning Business Center is located at 1628 Browning Road approximately 15 minutes from downtown Columbia in the St. Andrews submarket. The property is positioned at the intersection of Interstates 26 and 20, two of the major interstates in the Columbia MSA, allowing tenants to access a large employment base surrounding the city and providing visibility to more than 120,000 vehicles per day. Recently renovated, the two-story building is 91.2 percent leased to tenants, including the State of South Carolina.
The HFF debt placement team representing the borrower included senior director Cory Fowler.
About Mountain Crest Capital
Mountain Crest Capital is an opportunistic, private real estate investment firm headquartered in Columbia, SC that seeks above average returns through aggressive acquisition and repositioning of income producing properties. Mountain Crest’s ability to capitalize deals quickly through its various investors and capital sources gives it a competitive advantage in the marketplace, making them an active buyer in the Southeast, acquiring over 1,400,000 square feet of office and retail real estate since 2002.
About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
