Monday, July 8, 2013

HFF secures $11.8 million acquisition financing for a freestanding ShopRite Supermarket in Albany, NY

ShopRite Supermarket, 711 Central Avenue, Albany, NY

FLORHAM PARK, NJ – HFF announced today that it has secured $11.8 million in financing for a 65,000-square-foot freestanding ShopRite supermarket in Albany, New York.

Jon Mikula
                Working exclusively on behalf of The Hampshire Companies, HFF placed the seven-year, fixed-rate loan with a life insurance company.  Loan proceeds were used to acquire the property. 

                Constructed in 2012, the property is fully leased to Wakefern Corporation, who operates the ShopRite supermarket.  The store is located at 711 Central Avenue close to Interstate 90 in northwest Albany. 

                The HFF team representing The Hampshire Companies was led by director Michael Klein and senior managing director Jon Mikula.

Michael KLein
                “The rate was originally locked 12 months ago as a forward commitment,” said Klein.  “This enabled the borrower to take the interest rate risk off the table while they completed this complex acquisition structure.”

The Hampshire Companies is a full-service, private real estate firm with equity in assets valued at more than $2.5 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.
  For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel (main) 617-338-0990 | (direct) 617-338-1572 | cel 617.543.4873 |

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