Tepedino of HFF leads team in closing $315 million refinancing

According to Holliday Fenoglio Fowler, L.P., (HFF) it has arranged a $315 million refinancing for 340 Madison Ave., a 750,000 s/f, 22-story, class A office building in midtown. The building is jointly owned by RXR Realty, Broadway Partners and USAA Real Estate Co. HFF placed the 12-year fixed-rate loan with Cornerstone Real Estate Advisers. Loan proceeds are paying off an existing loan on the property. The HFF team representing the borrower was led by senior managing director Michael Tepedino. Originally built in 1928, 340 Madison Avenue was completely redeveloped in 2006 to institutional quality standards. Tenants at the 92% leased office tower include McDermott Will & Emery, SunGard and The U.S. Government's Office of the Comptroller of the Currency. Street-level retail tenants include Allen-Edmonds, Coach, Starbucks and Verizon. 340 Madison Ave. occupies the entire western block front of Madison Ave. between East 43rd and 44th Sts. one block west of Grand Central Terminal. RXR Realty LLC (RXR), is a vertically integrated real estate company with expertise in investment management, property management, development, construction, leasing and financing. RXR's core growth strategy is focused on New York City and the surrounding tri-state area markets. The company is one of the largest owners, managers, and developers in the New York Tri-State area markets with interests in approximately $4.5 billion of assets, comprised of 105 operating properties containing approximately 17.1 million square feet. For information about RXR, visit www.rxrrealty.com. USAA Real Estate Company manages a multi-billion dollar portfolio including recent acquisitions of $3 billion and under development assets of $2 billion. The company provides co-investment asset management services to U.S. pension funds as well as foreign and domestic institutional investors. USAA Real Estate Company also provides capital to partners across the country for development in virtually all product types. The portfolio consists of office, industrial, multi-family, retail and hotel properties as well as investments in real estate operating companies. USAA Real Estate is a subsidiary of USAA, a leading AAA rated financial services company, serving military families since 1922. For more information, visit www.usrealco.com. Broadway Partners is a private national real estate investment and management firm headquartered in New York City. Its partners represent a cross section of domestic and international private and institutional investors. Since its founding, the firm has invested in approximately $15 billion in high-quality office properties in select markets nationwide. The company currently owns interests in over eight million square feet of premier office space in New York, Boston, Los Angeles and San Francisco. Holliday Fenoglio Fowler, LP ("HFF") and HFF Securities LP ("HFFS") are owned by HFF, Inc. (NYSE: HF). HFF operates out of 19 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales, and commercial loan servicing.