 |
| Liberty Center, 7454 Liberty Way, Liberty Township, Cincinnati, OH |
 |
| Michael Gigliotti |
NEW YORK, NY – HFF announced it has secured a $165 million
construction financing for Liberty Center, a 626,791-square-foot, retail town center development in Liberty
Township, a northern Cincinnati, Ohio, suburb.
HFF
worked on behalf of the joint venture partners, Bucksbaum Retail Properties,
LLC and Steiner + Associates, along with financial partner Mount Kellett
Capital Management L.P., to secure the loan through a single capital source.
Liberty Center is situated on 65 acres at 7454 Liberty Way, which fronts
both Interstate 75 and State Route 129, one of the most heavily trafficked
cross-roads in the area with an average of 175,000 vehicles per day.
The retail portion
of the center financed with the loan is part of a larger mixed-use development
that will include 75,000 square feet of office space, 241 multi-housing units
and a 130-room AC Marriott hotel.
Dillard’s is also building a 200,000-square-foot department store to
anchor the town center.
 |
| Daniel Kaufman |
The project has
secured an impressive roster of high quality retailers, including Dick’s
Sporting Goods, Cobb’s CineBistro, Kona Grill, Cheesecake Factory and Brio
Tuscan Grill.
The HFF team was led by managing director Michael
Gigliotti and director Daniel Kaufman.
“This project represents possibly the most significant
ground-up retail development of the current real estate cycle, anywhere in the
United States,” Kaufman said.
“The sponsorship team came together to realize an incredible
vision, combining the development and retail expertise of Steiner and
Bucksbaum, with the capital markets strength of Mount Kellett. All signs point to a very successful
project, and one that will be very important for Cincinnati.”
“The lender was able to provide a comprehensive construction
financing solution for the development project,” Gigliotti added.
 |
| Yaromir Steiner |
“The sponsors
recognized this particular lender’s ability to navigate through complex
structuring issues, including a public financing component, several different
retail buildings and parking structures, and the office, apartment, and hotel
components, all of which are integrated but being developed separately.
" HFF is excited to have been involved with a
project which required a tremendous effort by all parties.”
Based in Chicago, Bucksbaum Retail Properties is a fully
integrated real estate developer of mixed-use projects with a primary focus on
retail.
Understanding the relationship
between a high-quality of life and the built environment, BRP is incorporating
office, residential and hospitality uses into its projects to create a sense of
place for consumers, residents and businesses.
Founded in 1993 by Yaromir Steiner, Steiner +
Associates has built a track record of development excellence that clearly
establishes the firm as one of the industry’s most respected developers. Operating out of the firm’s corporate
offices at Easton Town Center in Columbus, Ohio, Steiner’s award-winning
development team is focused on creating profitable retail and mixed-use
environments and committed to a model that builds long-term value. Visit www.steiner.com for more information.
Mount Kellett is a multi-strategy private investment firm
focused on global value, special situations and opportunistic investing. The firm has approximately 115 employees
with offices in New York, Dallas, Hong Kong, London, and Mumbai. The firm currently has in excess of $7
billion in assets under management.
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
No comments:
Post a Comment