Wednesday, July 31, 2013

HFF arranges $13.4 million financing for Winter Haven Citi Centre in Winter Haven, FL


Winter Haven, FL Citi Centre

MIAMI, FL – HFF announced today that it has arranged a $13.4 million senior loan for Winter Haven Citi Centre, a 185,705-square-foot, power center located in Winter Haven, Polk County, Florida.

Chris Drew
                HFF worked exclusively on behalf of the borrower, Winter Haven Citi Centre, LLC, a partnership controlled by Schmier & Feurring Properties, Inc., and Independencia Asset Management, LLC to secure the 10-year CMBS loan. 

Winter Haven Citi Centre is located at the intersection of Highway 17 and Avenue K, SW in Winter Haven, approximately 50 miles east of Tampa.  The center is 96.8 percent leased to prominent national tenants including Macy’s, Belk, Staples and Pier One Imports. 

Redeveloped in 2000, the center is situated on a 29.55-acre site and is shadow anchored by a Lowe’s Home Improvement Store.  

                The HFF debt placement team representing the borrower was led by director Chris Drew and senior analyst Jose Carrazana. 

“Despite the recent turbulence in the capital markets, it’s a great time to be a borrower.  Lenders are aggressively pursuing quality assets and quoting rates that are well below historical averages,” said Drew.

                HFF’s debt placement team secured more than $3.9 billion in financing for retail assets nationally in 2012.  HFF closed more than $680 million in retail transactions across all capital markets platforms in the state of Florida during 2012.

 For a complete copy of he company’s news release, please contact:       

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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