At the time of the closing of the loan, which took out earlier financing, the portfolio's occupancy was just shy of 83%. The breakdown includes four fully leased buildings, one at 68% and one property vacant.
According to information released by the brokers, CBRE's New York City-based Capital Markets Group, the loan was financed by Capital Bank NA and structured at a floating rate over LIBOR on an interest-only basis. The brokers were SVP Michael Sherman and VP Efrat Sharon.
"Given the nature of the credit markets today, this transaction covering six properties required patience and a strong sense of cooperation on the part of both borrower and lender," says Sharon, in a statement.
Hampshire is planning to make some capital improvements in the properties, according to company officials. Current tenants in the buildings include Verizon and International Contractors Services, among a number of others.
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