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| RiverCenter Mall, Downtown San Antonio, TX |
DALLAS, TX – HFF announced today that it has arranged a
$54.2 million construction loan for the redevelopment of the historic Joske’s
Building at the RiverCenter Mall, a tourist-oriented retail mall
along San Antonio’s River Walk.
HFF worked exclusively on behalf of the borrower, Ashkenazy
Acquisitions Corporation, to secure the bridge facility through Cornerstone
Real Estate Advisers, on behalf of a Cornerstone managed fund.
Loan proceeds will be used for the redevelopment
of the historic building.
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| Trey Morsbach |
Built in 1887 as the original location of Joske’s
Department Store, the property is situated at the corner of Alamo and
Commerce Streets overlooking the historic Alamo Plaza in San Antonio’s
central business district.
Joske’s occupied the space until 1987 at which time
Dillard’s moved into the space until its departure in 2008. The mall redevelopment will include a
variety of retail, restaurant and entertainment tenancy.
The HFF team representing Ashkenazy Acquisitions Corporation
was led by senior managing director Trey Morsbach, executive managing
director John Pelusi and associate director Cullen Aderhold.
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| John Pelusi |
Headquartered in New York City, Ashkenazy Acquisition
Corporation is a private real estate investment firm focusing on retail and
office assets. Ashkenazy Acquisition has acquired over 13 million square feet
of retail, office and residential properties, located throughout the United
States and Canada.
With a portfolio containing more than 100 buildings valued
at approximately $5 billion, Ashkenazy Acquisition has a superior performance
history in purchasing and managing premier assets.
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
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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