Holliday Fenoglio Fowler, L.P. (HFF) announces the refinancing of Toringdon Office Park, a six-building, 519,698-square-foot, Class A office park in Charlotte, North Carolina.
The HFF team worked on behalf of the borrower, Trinity Capital Advisors, to secure the floating-rate loan through Bank of America Merrill Lynch. Loan proceeds are refinancing an existing loan for the six-building office park, which HFF arranged in 2015, and funding the development of a seventh building, Toringdon 7, in the same park.
Toringdon Office Park consists of six properties located at 3420, 3430, 3440, 3426, 3436 and 3530 Toringdon Way directly off Johnston Road in the Ballantyne submarket of Charlotte. This location, about 10 miles south of Charlotte’s central business district, provides direct access to Interstates 485 and 77 and the Interstate 85 corridor. The buildings were constructed between 2001 and 2008, and the park is 95 percent leased overall. The park’s largest tenants include Selective Insurance, Crown Castle, Heartland Payment Systems and TIAA-CREF. Toringdon 7, which is scheduled for completion in December 2019, will feature 198,195 square feet.
HFF’s debt placement team representing the borrower consisted of senior managing director Travis Anderson and senior director Cory Fowler.