ING Clarion Borrows $98M for Industrial Refi

NEW YORK CITY-Locally based ING Clarion Partners has secured $97.5 million for the refinancing of a seven-property industrial portfolio in Florida, New Jersey, Oregon and Texas. The Dallas office of Holliday Fenoglio Fowler LP arranged the five-year fixed-rate refinancing through a life insurance company.

HFF managing director John Rose worked exclusively on behalf of the borrower, ING Clarion Partners. HFF tells GlobeSt.com that they cannot provide any further information at this time regarding the specifics of the deal, but Rose tells GlobeSt.com that what is interesting about the deal was the fact that the portfolio was in several different states, and that even with some of the assets being damaged by the recent hurricane in Houston, “the lender and borrower were able to overcome those issues and move forward, based on the relationship they had.” Although he couldn’t disclose who the life insurance company was, he said that it is ING Clarion’s and the life insurance company’s third transaction together. ING Clarion did not respond to queries by deadline.