HFF arranges £31.2M financing for Harbor Group International’s acquisition of 8 Bouverie Street in Central London

LONDON, ENGLAND – November 9, 2017 – HFF Real Estate Limited (HFF) announces the £31.2 million in financing for 8 Bouverie Street, a 47,183-square-foot office asset in Central London.

The HFF team worked on behalf of an affiliate of Harbor Group International, LLC, to secure the five-year, floating-rate acquisition loan through Helaba (Landesbank Hessen-Thueringen), marking the inaugural transaction between the two institutions.

Originally built in 1989, 8 Bouverie Street was renovated in 2014 and features five stories of office space that is fully leased through 2029 to a subsidiary of Euromoney, an international business-information group listed on the London Stock Exchange (LSE: ERM).  The property is strategically located within Central London to allow for easy ingress and egress via six tube stations and, upon completion in 2018, the new high frequency Crossrail.

The HFF debt placement team representing the borrower was led by senior director Claudio V. Sgobba and director Brad Greenway.

“It has been a pleasure to extend the existing relationship between HFF, Harbor Group International and Helaba over to Europe for this core, central London office transaction,” said Greenway.

“This specific financing request was significantly oversubscribed and is a testament to the quality of the asset, tenant credit, long lease duration, and the superior sponsorship.  Mark Lloyd and the rest of Helaba’s team delivered a flawless execution in providing a 65 percent LTV, bilateral bullet loan that was competitively priced,” added Sgobba.

"As a strong and active relationship lender, Helaba were delighted to support this new client in the U.K., and look forward to growing the relationship in the future. The transaction demonstrates our proven ability to deliver when faced with tight acquisition timescales,” added Mark Lloyd, director of Real Estate Finance for Heleba.

“HGI continues to actively pursue investments in the London market,” said Jay Zwiebel, executive managing director of HGI.  “8 Bouverie is a perfect fit for our investment strategy of acquiring properties occupied by first class tenants in key markets.”

About Harbor Group International, LLC
Harbor Group International, LLC is a private real estate investment and management firm, which controls a portfolio of worldwide assets valued in excess of $5.2 billion.  HGI is headquartered in Norfolk, Virginia with offices in New York, Baltimore and Tel Aviv.  The company’s real estate holdings include in excess of 4.7 million square feet of commercial properties and approximately 22,500 apartment units.  For additional information, please visit harborgroupint.com.

About HFF
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.  HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.  HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

CONTACTS:
CLAUDIO SGOBBA

HFF Senior Director
+44 20 7317 3115
csgobba@hfflp.com

BRAD GREENWAY
HFF Director
+44 20 7509 6700
bgreenway@hfflp.com

KRISTEN MURPHY
HFF Director, Public Relations
(617) 848-1572
krmurphy@hfflp.com

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