John Hancock Financial has provided $100 million in financing for a nine-property, 1.2 million sq ft office and industrial portfolio in Florida, Georgia, Michigan, Pennsylvania, South Carolina, Tennessee and Texas.
The 12-year, fixed-rate, non-recourse loan includes three years interest-only followed by 30-year amortization.
The mostly single-tenant properties house tenants including CSX, Verizon, United Healthcare, Teva Pharmaceuticals, FedEx, Simmons Bedding, Siemens, Huntsman and WestRock.
Zac Brumbaugh and Jim Brumbaugh, vice presidents with CBRE Capital Markets’ Debt & Structured Finance team, based out of the firm’s Orlando office, arranged the financing on behalf of the borrower group, a joint venture between Orlando-based office and industrial property owner Susquehanna Holdings Company; Paul Pugliese, a Pennsylvania-based attorney; and local real estate investor James Gissy.
In 2014, CBRE’s Debt & Structured Finance team completed $32 billion in loan activity, closing over 800 loans with more than 265 separate lending sources, according to the firm’s website.
The firm has also been recognized as the #1 Freddie Mac lender six years in a row. Last week Real Estate Capital first reported that, among its newer lending programs, CBRE Capital Markets’ Business Lending team had secured 250 loans totaling $615 million through the Freddie Mac Small Balance Loan (SBL) program. The firm joined the program less than a year and a half ago, in April of 2015.
Boston-based John Hancock’s real estate finance group provides fixed rate, permanent loans between $10-$200 million with amortization schedules from 15 to 30 years, and interest-only in select cases.