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| Camelback Center, Phoenix, AZ |
LOS ANGELES, CA – HFF announced today that it has arranged
acquisition financing for Camelback Center, a 32,963-square-foot, CVS-anchored
retail center in Phoenix, Arizona.
HFF
worked on behalf of a private real estate fund advised by Crow Holdings
Capital- Real Estate to secure the fixed-rate loan through Guggenheim
Commercial Real Estate Finance, LLC.
Loan proceeds were used to acquire the property.
Camelback Center is situated on 3.85 acres at the
intersection of Camelback Road and 16th Street in Phoenix’s Camelback Corridor,
an area that contains some of the city's most upscale neighborhoods.
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| Paul Brindley |
North of the property is access to the
Piestewa Freeway, the main north-south route through the middle of the
city.
Built in 2003, the center is 100
percent leased to CVS, Chipotle Mexican Grill, Jimmy Johns, H&R Block,
Tropical Smoothie Café, European Wax Center and Massage Envy. The center is shadow-anchored by Total Wine
& More.
The HFF team representing the borrower was led by senior
managing director Paul Brindley and associate director Jeff Sause.
Douglas Mueller of
Mueller & Associates Realty Advisors in Phoenix served as co-broker on the
transaction.
Crow Holdings Capital – Real Estate (CHC-RE) is the
investment manager to a series of real estate private equity funds designed to
generate current income and benefit from the capital appreciation of portfolio
investments.
The six funds have had
total equity commitments from partners of approximately $4.1 billion,
approximately $675 million of which was committed by Crow Family Holdings.
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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