HARRISBURG, PA—HFF arranged a $50 million financing for Los Angeles-based Hager Pacific Properties, which is acquiring a 100-percent-occupied portfolio of 10 properties with 86 buildings totaling 2.12 million square feet in central Pennsylvania.
HFF secured a 17-year, 4.15-percent, fixed-rate loan for Hager through a correspondent life company. HFF is servicing the loan.
The portfolio is 100 percent leased to Jacobson Companies, a warehousing and distribution firm. The portfolio properties are in close proximity to major highways and interstates allowing fast transportation to Baltimore, Philadelphia, Washington, D.C., New York City and Boston.
Managing director Mark Wintner from HFF's Los Angeles office and managing director Ryan Ade from HFF's Philadelphia office led the HFF debt placement team.
Hager Pacific Properties owns and manages more than 100 properties throughout the United States, including 2,300 apartment units and 12 million square feet of industrial and commercial property. The portfolio is valued in excess of $1 billion.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
