Tepedino, Klein and Keller of HFF arrange $100 million in financing

HFF has arranged $100 million in long-term financing for a 510-unit, high-rise residential property in the Murray Hill neighborhood. HFF worked on behalf of the borrower to secure the 20-year, fixed-rate loan through Prudential Mortgage Capital Company, the commercial real estate finance business of Prudential Financial, Inc. The property is located on 39th St. between First and Second Aves., in close proximity to several neighborhood amenities, public transportation, Grand Central Station and Midtown. The 39-story building consists of studio, one and two-bedroom units. Community amenities include a doorman, parking garage, laundry facilities and bicycle storage. The HFF team representing the borrower included senior managing director Michael Tepedino, managing director Steven Klein and associate director Jennifer Keller. Prudential was represented by director Sarah Teunis and senior analyst Kathryn Bradford. "The transaction provided the borrower an opportunity to take advantage of the low interest rate environment and provided lenders an opportunity to offer funding for a high quality residential asset in one of the top neighborhoods in the city with best in class sponsorship," said Klein.