 |
| Tucker Knight |
HOUSTON, TX – HFF announced it has arranged a combined $14.5
million in financing for the acquisition of Eastwood Village a
134,256-square-foot regional power center in the affluent Mountain Brook area
of Birmingham, Alabama.
HFF
worked on behalf of Morrison Companies to secure the 10-year, fixed-rate,
securitized loan through Redwood Trust.
The financing consists of a $12.9 million senior loan and a $1.6 million
mezzanine loan.
Eastwood Village is situated on 5.5 acres at 1604-1624
Montclair Road in the eastern Birmingham area of Mountain Brook, an area with
an average annual household income of more than $75,000.
The retail center is near the intersection of U.S. Highway
78 (Crestwood Boulevard) and Oporto Madrid Boulevard with a traffic count
exceeding 46,000 vehicles per day.
 |
| Michael F. Johnson |
Completed in 2007, the center consists of two single-story
buildings and two outparcels that are 99 percent leased to Ross Dress for Less,
Office Depot, Party City, Show Carnival, Starbucks, T-Mobile, Game Stop and
Tuesday Morning. Additionally, Eastwood
Village is shadow-anchored by a 24-hour Walmart Supercenter.
The HFF team representing the borrower was led by managing
director Tucker Knight, associate director Tyler Ford and real
estate analyst Michael Johnson.
The Morrison Group of Companies owns, operates and develops
commercial and industrial properties throughout the Southeast United
States.
Current projects are located in
Louisiana, Arkansas, Alabama, Georgia, South Carolina and North Carolina. For more information, visit www.themorrisongrp.com.
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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