IRVINE, CA – HFF announced it has arranged a $27.5 million refinancing for Northgate North (top left photo), a 303,255-square-foot, multi-level shopping center in Seattle, Washington.
HFF worked on behalf of Retail Properties of America, Inc. (NYSE: RPAI) to secure the 15-year, fixed-rate loan through ING Investment Management, LLC out of Atlanta, Georgia.
“Northgate North is a core, strategic property in our retail portfolio. It is located in a dense, infill area of Seattle with strong demographics and a well-diversified tenant lineup, led by Target,” said Angela Aman, executive vice president, chief financial officer and treasurer for RPAI.
Northgate North is located at 302 Northeast Northgate Way near Interstate 5. The property is less than half of a mile from Northgate Mall. The center is 99 percent leased to Best Buy, Ross Dress for Less, Petco and Sports Authority.
The HFF team representing the borrower was led by senior managing director Kevin Mackenzie (lower right photo) and managing director Tom Wilson.
Retail Properties of America, Inc. (NYSE: RPAI) is a fully integrated, self-administered and self-managed real estate investment trust that owns and operates high-quality, strategically located shopping centers across 35 states. The company is one of the largest owners and operators of shopping centers in the United States. Additional information about the company is available at www.rpai.com.
Contacts:
KEVIN C. MACKENZIE
HFF Senior Managing Director
(949) 253-8800
THOMAS F. WILSON
HFF Managing Director
(503) 224-0444
OLIVIA N. HENNESSEY
HFF Associate, Marketing
(713) 852-3500
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