Monday, August 22, 2011

HFF arranges $32 million financing for Hudson Valley Plaza in Kingston, NY

  FLORHAM PARK, NJ – HFF announced today that it has arranged $32 million in financing for Hudson Valley Plaza (top left photo), a 605,722-square-foot retail power center in Kingston, New York.

HFF worked on behalf of HUH US Real Estate Income REIT, Inc., an affiliate of The Hampshire Companies, to secure the seven-year, fixed-rate loan through an unnamed life insurance company.  Loan proceeds were used to acquire the property.  HFF will also service the loan.

Hudson Valley Plaza is situated on more than 43 acres at 401 Frank Sottile Boulevard at the intersection of Route 9 West and Routes 199/209 in Kingston, about 18 miles northwest of Poughkeepsie.  Completed in 1995, the property is 98 percent leased to tenants including Wal-Mart Supercenter, Sam’s Club, Lowe’s, Michaels and Petsmart.

The HFF team representing The Hampshire Companies was led by senior managing director Jon Mikula (Middle right photo) and director Michael Klein (lower left photo).

“Speed was critical on this assignment and the lender was able to close from start to finish in 34 business days,” said Mikula.

The Hampshire Companies is a full-service, private real estate firm with equity in assets valued at more than $2 billion, based in Morristown, New Jersey.  The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments.

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

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