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SAN FRANCISCO-Rreef Funds LLC has closed on $38.46 million in financing for a nine-property office and industrial portfolio. Located in Georgia, Virginia and Arizona, the properties total 522,493 sf.
The portfolio has a mix of office and industrial space in each property ranging from as little as 38% to as much as 95% office space. The average occupancy is 80%. Tenants include Flip Chip International LLC, Biovail Technologies, Tronitec Inc., Montgomery KONE Inc. and Chart Industries Inc.
Each loan is 60% leveraged and has a combination of five-year and 10-year terms, fixed and adjustable rates, according to Mike Kavanau with the Chicago office of Holliday Fenoglio Fowler, which placed the loans with Nationwide Realestate Investors and will service the loan.
The two Arizona properties are located in Phoenix, at 3601 and 3607 East University Dr. The three Georgia properties are located in Marietta at 1800 Sandy Plains. The four Virginia properties are located in Chantilly at 3701, 3725, 3800 and 3810 Concorde Parkway.
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