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McKnight Secures $42M Refi on Grant Bldg

HFF Places Loan with Starwood Mortgage, Morrison Street Capital
September 19, 2017
McKnight Grant Building Associates LP, an affiliate of Pittsburgh-based McKnight Realty Partners, secured a $42 million refinancing on The Grant Building at 310-330 Grant St. in Pittsburgh, PA.

Gerard Sansosti and Nick Matt with Holliday Fenoglio Fowler (HFF) LP arranged the debt package, comprised of a 10-year, fixed-rate first mortgage with Starwood Mortgage Capital and a 10-year mezzanine loan through Morrison Street Capital.

The 37-story, 450,000-square-foot, 4-Star office tower was built in 1928 on almost half an acre in the city's CBD submarket, near the corner of Fourth Ave. and within close proximity to I-376, I-279 and the First Avenue T station. The asset offers ground-floor dining and retail options, integral on-site parking and is 90 percent occupied by multiple tenants including Huntington Bank, The Hillman Company and Sisterson & Company.
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