HFF arranges $20 million leasehold financing for Waldemere Medical Plaza in Sarasota, Florida

The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged $20 million in leasehold financing for Waldemere Medical Plaza, an eight-story, 149,710-square-foot medical office building in Sarasota, Florida.

Working exclusively on behalf of Davis Marcus Partners, HFF senior managing director Riaz Cassum and director Gregory LaBine placed the fixed-rate loan with Aetna Life Insurance Company for the acquisition of the property. HFF will also service the loan. Founded in 1976, Davis Marcus Partners is a privately-held real estate investment, development and management firm with offices in Massachusetts, Connecticut and Florida.

Waldemere Medical Plaza is located at 1921 Waldemere Street close to Routes 45 and 41 in Sarasota. The property is adjacent to the Sarasota Memorial Hospital and is connected via a sky bridge to the hospital and parking garage. Completed in 1990, Waldemere Medical Plaza is currently approximately 92% leased primarily to physician’s groups from the Sarasota Memorial Hospital.

“At a time when lenders are less creative, Aetna came up with a creative deal structure involving a future earn-out at a fixed interest rate. This allowed the borrower to achieve its objectives of fixing its cost of capital while not having to pay for it until the funds were needed,” said Cassum.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.

Contacts: RIAZ A. CASSUM LAURIE FISH MCDOWELL

HFF Senior Managing Director HFF Associate Director, Marketing

(617) 338-0990 (617) 338-0990

rcassum@hfflp.com lmcdowell@hfflp.com