Foschini, Julian and Lee of CBRE arrange $157 million for Brookwood Financial

Philadelphia, PA CBRE Capital Markets’ debt & structured finance team has originated $157 million in bridge financing for the acquisition of a 29-property office portfolio. The class A and B properties total 1.61 million s/f and are located in Bucks County, Fort Washington, Horsham and Lehigh Valley. Charles Foschini, Amy Julian and Christian Lee of CBRE’s Miami, office arranged the financing on behalf of Brookwood Financial Partners. Starwood Property Trust provided the two-year loan with extension options, at a floating interest rate and 70% loan-to-value ratio. “This value-add portfolio is expected to benefit from recovering rents, both nationally and in each of the properties’ localities. The loan allows the new owner to take an aggressive posture in repositioning the assets and take advantage of the leasing velocity in each submarket,” said Foschini. The sub-portfolios consist of three buildings in the Bucks County submarket totaling 167,280 s/f; six in Fort Washington totaling 457,913 s/f; nine in Horsham totaling 318,137 s/f; and 11 in Lehigh Valley totaling 668,631 s/f.