Wednesday, June 3, 2009

HFF secures $7.1M refinancing for Magnolia Square Shopping Center in San Ramon, CA

SAN FRANCISCO, CA – The San Francisco office of HFF (Holliday Fenoglio Fowler, L.P.) announced today they secured a $7.1 million refinancing for Magnolia Square Shopping Center (above photo), a 41,913-square-foot shopping center in San Ramon, California.

HFF senior managing director Bruce Ganong (top right photo) , and director Zane Sweet worked exclusively on behalf of Kimco Realty Corporation in arranging the fixed-rate loan through Fidelity Bancorp Funding, Inc.

Magnolia Square Shopping Center is located at the intersection of Crow Canyon Place and Crow Canyon Road in the East Bay community of San Ramon.

The neighborhood center is anchored by national and regional tenants including Petco, Starbucks, Baskin Robbins and Max’s Cafe.

“Despite continued challenges in the capital markets, attractive financing remains available for quality real estate transactions with strong sponsorship,” said Sweet.

Kimco Realty Corporation, a real estate investment trust (REIT), owns and operates North America’s largest portfolio of neighborhood and community shopping centers.

As of March 31, 2009, the company owned interests in 1,476 properties comprising 155 million square feet of leasable space across 45 states, Puerto Rico, Canada, Mexico, and South America.
Publicly traded on the NYSE under the symbol KIM and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for 50 years.
Bruce Ganong, HFF Senior Managing Director, (415) 276-6300,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

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