HFF secures $165 million financing for 4-property retail portfolio in Pennsylvania and Ohio

The Waterworks, Pittsburgh, PA

PITTSBURGH, PA - HFF announced it has secured $165 million in financing for a four-property retail portfolio totaling more than 1.9 million square feet in Pennsylvania and Ohio.

Working on behalf of the borrower, J.J. Gumberg Co., HFF secured a fixed-rate loan on three of the properties through CorAmerica Capital, LLC and JP Morgan Chase Bank, National Association and a floating-rate loan on the fourth property through CorAmerica Capital, LLC. 

The portfolio includes a mixture of two enclosed malls, a grocery-anchored retail center and a power center.  Individual property details are listed below:

Property Name & Location      Size                     Year Built      Occupancy

Clearview Mall                                     760,000 SF            1998         94%

Butler, Pennsylvania

The Waterworks                             640,000 SF            2005           99%

Pittsburgh, Pennsylvania

North Huntingdon Square                 130,000 SF            1975            100%

North Huntingdon, Pennsylvania    

Northtowne Mall                              385,000 SF            1986            98%

Defiance, OH                                       

The HFF debt placement team was led by executive managing director Gerard Sansosti and senior analyst Brandi Wyskocil.

Brandi Wyskocil

J.J. Gumberg Co. is a third-generation, global real estate investment and development company.  Headquartered in Pittsburgh, Pennsylvania, Gumberg has been an established industry leader for nearly 90 years, and is one of the largest privately held retail real estate developers in the country with a focus on creating institutional-quality, large-scale retail properties.

For more information, 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

krmurphy@hfflp.com