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Deals & Dealmakers

NGKF marketing national GSA portfolio

NGKF Capital Markets is marketing a national portfolio of properties leased to the U.S. General Services Administration (GSA).

The portfolio is made up of nearly one million square feet of properties that vary from immigration processing centers to federal courthouses located across eight states.

The NGKF Capital Markets team is led by Kenneth Zakin in New York, Tim Strange in Oklahoma City and Mark Phillips in Phoenix, and is supported by additional Newmark Grubb Knight Frank brokers in their respective local markets.

KENNETH ZAKIN
KENNETH ZAKIN

“This is an exceptional opportunity for an investor focused on acquiring government-leased properties to obtain a large, diversified national portfolio of high-quality properties in a single transaction,” said Zakin.

“In addition, the existing interest-only financing will enable an investor to receive significant cash flow over the next three years, as well as have an opportunity to favorably refinance the portfolio in 2017.”

The portfolio is owned by HPI Capital Inc., the managing entity for The HPI Group, one of the largest owners of GSA-leased properties in the country.

HPI acquired the properties from 1997 to 2004 and arranged $125 million of securitized financing for the portfolio in 2007.

“The nature of the facilities that comprise the portfolio, and the ongoing demonstrated commitment to these properties, should provide investors with significant comfort that the acquisition will provide a long-term, uninterrupted, U.S.-government-backed income stream,” said Strange.

The properties are being offered as a portfolio only and are without an asking price.

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