BOSTON, MA– Holliday Fenoglio Fowler, L.P. (HFF) announced $100 million in financing for Merritt 7, a six-building, 1.4 million-square-foot, Class A office park in Norwalk, Connecticut.
The HFF team worked on behalf of the borrower, a separate account managed by Clarion Partners, to secure the five-year, fixed-rate loan through a correspondent life company.
Merritt 7 comprises six buildings along Route 7 less than one-half mile north of its intersection with the Merritt Parkway/Route 15 and less than three miles north of Interstate 95. Situated on 22 acres along the Norwalk River, the property features on-site amenities such as shuttle service to the Merritt 7 Metro-North Railroad Station, a state-of-the-art fitness center, conference centers, car care, two full-service cafeterias, Starbucks and a unisex salon. The buildings are 97 percent leased to a diverse tenant roster including General Electric, Factset Research Systems, Datto and Frontier Communications.
Clarion Partners, LLC, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 35 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles, São Paulo, Seattle and Washington, D.C. With more than $42 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 300 domestic and international institutional investors.