HFF arranges $17.5 million acquisition financing for facility in Fredericksburg
Holliday Fenoglio Fowler L.P. (HFF) has arranged $17.5 million in acquisition financing for a three-building distribution facility that is fully leased to CVS Caremark Corp. (CVS) in Fredericksburg.
HFF, on behalf of the borrower, ARCTRUST, placed the 10-year, fixed-rate loan with Kansas City Life Insurance Co.
The 487,897-square-foot CVS distribution facility is one of the company’s 17 U.S. distribution centers. It distributes products to 377 CVS stores in Maryland, North Carolina, Virginia and the District of Columbia.
Completed in 1985 and expanded in 1995, the complex consists of a main building housing a warehouse and offices, an aerosol storage facility and a truck repair facility.
It’s located on 39.4 acres at 500 Lansdowne Road.
Greg Nalbandian, a senior managing director for HFF, led the debt placement team representing the seller.