Thursday, September 17, 2009

HFF arranges refinancing for student housing community adjacent to North Carolina’s Campbell University

INDIANAPOLIS, IN – The Indianapolis office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured refinancing for Campus Habitat 9, (top left photo)  an 82-unit student housing community adjacent to Campbell University in Lillington, North Carolina.

HFF senior managing director Dave Keller (bottom right photo) and associate director David Ross worked on behalf of Campus Habitat to secure the five-year, 7.0% fixed-rate loan with Coastal Federal Credit Union. New York City-based Campus Habitat acquires, renovates and manages student housing communities throughout the United States.

HFF also arranged refinancing in August for a student housing community at Vincennes University in Indiana on behalf of Campus Habitat.

“We were very excited to have a second opportunity to work with Campus Habitat and to once again help them achieve their financing objectives in today’s challenging capital markets,” said Ross.

Campus Habitat 9 is located at 25 Landis Lane adjacent to Campbell University, a private Baptist institution situated halfway between Raleigh and Fayetteville in Lillington, North Carolina. Completed in 2005, the Class A property has single, one-, two-, three- and four-bedroom units with a total of 224 beds. Property amenities include a sand volleyball court, gaming room and fitness center.

“Campus Habitat 9 is the only dedicated student housing asset in the Campbell University market and as a result is tremendously popular with students. However, the size of the University [9,400 students] and surrounding community [population 3,300] required HFF to be innovative and persistent in the placement and successful completion of this assignment,” added Keller.

David B. Keller, HFF Senior Managing Director, (317)630-3191,
Kristen M. Murphy, HFF Associate Director, Marketing, ,(713) 852-3500,

HFF secures $12.5M refinancing of suburban Chicago shopping center

FLORHAM PARK, NJ – The New Jersey and Chicago offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have secured a $12.5 million refinancing for Baker Hill Shopping Center, (top right photo)  a 135,355-square-foot, grocery-anchored shopping center in Glen Ellyn, Illinois.

Working exclusively on behalf of Columbia Retail Baker Hill, LLC, a joint venture managed by Regency Centers, HFF managing director Jim Cadranel (middle left photo) l and director Matthew Schoenfeldt (bottom right photo)  placed the five-year, fixed-rate loan with Ladder Capital Finance. This was the second financing for Regency Centers placed by HFF within the last nine months.

“We are pleased to have arranged this financing for Regency Centers in a difficult market,” said Cadranell.

Baker Hill Shopping Center is located at 830 Roosevelt Road at the intersection of Roosevelt Road and Baker Hill Drive in Glen Ellyn, approximately 23 miles west of downtown Chicago. Completed in 1999, the property is 93% occupied and is anchored by Dominick’s Finer Foods, a wholly-owned subsidiary of Safeway, Inc.

Regency Centers is a publicly-traded national owner, operator, and developer of grocery-anchored and community shopping centers.

Ladder Capital Finance LLC is a specialty finance company that specializes in the origination of commercial mortgage loans primarily to be held in its investment portfolio. Ladder Capital is fully integrated with in-house direct origination, underwriting and asset-management capabilities.

The company was formed in October 2008 and is comprised of a highly experienced team of industry veterans that ran the loan origination groups of major financial institutions including UBS and CSFB. Ladder Capital’s personnel have deep relationships and expertise in all aspects of commercial real estate lending and investment.


James A. Cadranell, HFF Managing Director, (973) 549-2000,

Matthew R. Schoenfeldt, HFF Director, (312) 528-3650,

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

$23.8M acquisition financing for Neptune, NJ retail center arranged by HFF

 FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged $23.8 million in acquisition financing for Neptune Plaza Shopping Center, (top left photo)  a grocery-anchored shopping center in Neptune, New Jersey.

Working exclusively on behalf of The Azarian Group, HFF senior managing director Thomas Didio (bottom right photo) and associate director Michael Klein (bottom left photo)  placed the five-year, fixed-rate loan with a local commercial bank. Loan proceeds were used to acquire the property. The Azarian Group is an experienced retail owner that manages and develops shopping centers throughout New Jersey and New York.

Originally completed in 1970, Neptune Plaza Shopping Center was renovated and expanded in 2002 to its current size of 218,524 square feet. Tenants at the fully occupied center include ShopRite, Marshall’s, HomeGoods, Quizno’s, IHOP, Dunkin’ Donuts and a TD Bank North outparcel. Neptune Plaza Shopping Center is located at 2200 State Route 66 across from the Sea View Square Mall approximately three miles west of the Garden State Parkway in Neptune.

“HFF is pleased to once again assist The Azarian Group in the acquisition of such a dynamic neighborhood shopping center. This is a wonderful property and both the lender and borrower did a great job in committing and closing this business,” said Didio.

Thomas R. Didio, HFF Senior Managing Director, (973) 549-2000,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,