Sunday, November 15, 2015

HFF secures $27.7 million refinancing for New Orleans grocery-anchored shopping center

Algier's Plaza, Algiers Neighbordhood, Five Miles Southeast of Downtown New Orleans, LA

De'On Collins
DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $27.7 million loan for Algiers Plaza, a recently-renovated 236,389-square-foot shopping center anchored by Winn Dixie in New Orleans, Louisiana. 

HFF worked on behalf of the borrower, N3 Real Estate, to place the floating-rate loan with BBVA Compass.  

Loan proceeds were used to pay off a construction loan, acquire all of the minority partnership interests and fund future capital improvements and leasing costs at the property.

Algiers Plaza recently underwent extensive renovations, adding new junior tenant space for Petco, Ross Dress for Less, TJ Maxx and Burke’s. 

The 85-percent-leased center is also home to a recently-remodeled Winn Dixie, Payless Shoe Source, Buffalo Wild Wings, Mattress Firm and Walgreens.

 Situated on 24.98 acres, the property is on the West Bank of the Mississippi River approximately five miles southeast of downtown New Orleans in the Algiers neighborhood.  The property is located along General deGaulle Drive, a main thoroughfare with more than 50,000 vehicles per day.

The HFF debt placement team was led by associate director De’On Collins and senior managing director Travis Anderson.

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 |

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