Holliday Fenoglio Fowler, L.P. (HFF) announced that it has arranged $24.505 million in financing for Rexford Park I and II, two office buildings totaling 136,812 square feet in Charlotte, North Carolina.
HFF worked on behalf of the borrower, a partnership between Childress Klein and Gottesman Real Estate Partners, to secure the six-year, floating-rate first lien financing through Atlantic Union Bank. Loan proceeds are being used to acquire, renovate and re-lease the buildings.
Rexford Park I and II is located at 2100 and 2115 Rexford Road within SouthPark, one of Charlotte’s dominant Class A submarkets. This location has excellent demographics with an average household income exceeding $152,000 per year within one mile of the property and is within close proximity to the affluent residential enclaves of Barclay Downs, Myers Park, Foxcroft and Quail Hollow, where many local prominent business leaders reside. Additionally, Rexford Park has direct access to Interstate 77 as well as a plentiful retail amenity base, including The Specialty Shoppes at SouthPark, SouthPark Mall and the retail and dining offerings of Morrison. The borrower plans to do extensive renovations to the properties, which includes new state-of-the-art interior common spaces, major improvements to the exterior façade, and significant upgrades to building systems.
HFF’s debt placement team was led by senior director Cory Fowler.
About Childress Klein
As one of the largest real estate development, investment and management companies in the southeast, Childress Klein has developed more than 50 million square feet of commercial real estate and has more than $2 billion in assets under management. With more than 150 active clients, its in-house team of 280+ dedicated and experienced professionals take a hands-on approach to real estate investment, development and management putting its client’s needs and interests first. Since 1978 the firm has blended its diverse expertise in commercial real estate with a high-level of multidisciplinary thinking, creating teams that consistently seek to identify opportunities and solve our client’s greatest challenges. For more information, visit www.childressklein.com.
About Gottesman Real Estate Partners
Gottesman Real Estate Partners has earned its reputation over seven decades as one of the most hands-on owners and managers in suburban New York real estate. Tracing its roots to parking lots and self-storage facilities—true operating businesses that demand unparalleled service and the desire to impress customers every day—Gottesman Real Estate now focuses on office buildings whose tenants likewise expect attentive ownership. The firm specializes in high-touch markets such as Princeton, Chatham and Roseland, N.J., Newtown, Penn., and Stamford, Conn., where its drive to collaborate with Class A tenants helps to create top-flight spaces for its customers and successful investments for the Gottesman family.
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.
