HFF Announces $90M Refinancing of Zenith Ridge Corporate Campus in suburban Pittsburgh

7/23/18

Holliday Fenoglio Fowler, L.P. (HFF) announces the $90 million refinancing of Zenith Ridge Corporate Campus, three Class A office buildings totaling 486,000 square feet in the Pittsburgh-area community of Canonsburg, Pennsylvania.

The HFF team worked on behalf of the borrower, Quattro LP, a partnership comprised of principals Jim & Jack Scalo, John Verbanac and Charles Zappala, to secure the 10-year, fixed-rate loan through Starwood Mortgage Capital.

The property, which is managed, leased and developed by Burns Scalo Real Estate, comprises Zenith Ridge 1, 2 and 3, located in Southpointe Business Park (a southwestern suburban area of Pittsburgh). The campus setting offers tenants walking trails, outdoor exercise stations, ping pong tables, communal fire pits, outdoor patios and outdoor meeting areas. The campus offers a “live, work, play” environment featuring South Pointe Town Center’s residential, retail, restaurant and hospitality options all within a short walk. The fully leased Zenith Ridge is sustainably managed by Class G, LEED-certified and home to several tenants, including Ansys and EQT.

The HFF debt placement team representing the borrower included senior managing director Mark Popovich.

About BSRE

Burns Scalo Real Estate (BSRE) is a Pittsburgh-based full service commercial organization that has over five million square feet of office space and encompasses three different companies to satisfy all real estate needs. The organization provides brokerage, management and development services that function separately with their own teams of experts. BSRE believes strongly in using real estate as a supplemental tool to attract and retain talent in the work place. Every property is built with sustainability, health & wellness, amenities, and collaboration in mind. BSRE sets a high standard for the quality of real estate inside the 5 million + square feet that makes up its extensive portfolio. Visit www.burnsscalorealestate.com for more information.

About Summa Development

Summa Development and its principals are a real estate investment, finance and development venture. As financier, they have completed over 100 commercial/retail facilities in 22 states, aggregating in excess of $500 million. Summa is a Pennsylvania-based Limited Liability Company founded by its principals, Charles R. Zappala and John J. Verbanac in 2005.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

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