Foxfield Industrial Secures Financing for Industrial Portfolio

HFF announces $7.645M acquisition financing for 3-building industrial portfolio in suburban Philadelphia
Logan-Township-Industrial-

April 16, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $7.645 million acquisition financing for a three-building industrial portfolio totaling 193,379 square feet in the suburban Philadelphia community of Logan Township, New Jersey.

The HFF debt team worked on behalf of Foxfield Industrial, a joint venture between Novaya Real Estate Ventures (Novaya) and Foxfield Ventures, to arrange the first mortgage financing.

The portfolio comprises the 103,241-square-foot 1 Killdeer Court building, the 46,888-square-foot 614 Heron Drive building and the 43,251-square-foot 603 Heron Drive building. All three light industrial facilities were completed between 1975 and 1977 and have between 13.4- and 21-foot clear heights along with a total of 44 dock doors, eight drive-in doors and an average office finish of 20 percent. All properties are located in Gloucester County just off Interstate 295 and Exit 2 off the New Jersey Turnpike, which connects the property to Philadelphia and New York as well the rest of New Jersey.

The HFF debt team representing the sponsor included director Michael Pagniucci along with senior managing director Doug Rodio.

 

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AcquisitionCommercialDealsFinancingIndustrialNationalNortheastPhiladelphia

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