Monday, January 11, 2016

HFF secures long-term refinancing for coastal South Carolina grocery-anchored lifestyle retail center

Freshfields Village Shopping Center, Kiawah Island, South Carolina

WASHINGTON, DC – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a long-term refinancing for Freshfields Village, a 179,409-square-foot, upscale, grocery-anchored lifestyle retail center that serves as the downtown for the Charleston-area barrier island of Kiawah Island, South Carolina. 

HFF worked on behalf of the borrower, Northwood Investors, to secure the fixed-rate loan through Guggenheim Commercial Real Estate Finance.  HFF will service the loan, which will be used to refinance the acquisition loan arranged by HFF in 2013 and provide additional capital for re-tenanting and expansion costs. 

Completed in 2005, Freshfields Village is a mix of shopping, dining, galleries, businesses and services in an outdoor town center atmosphere. 

Mark Remington
Anchored by the 35,000-square-foot The Village Market by Harris Teeter, the 93-percent-leased center is home to 55 tenants, including Bank of America, Tommy Bahama, Lilly Pulitzer, King Street Grille, J.McLaughlin, Las Olas, Roberta Roller Rabbit, Wyndham Vacation Rentals, Vincent’s Drug Store and Soda Fountain, Wells Fargo, BB&T, Palmetto Island and The Station Deli.  

Situated on 17.2 acres at 165 Village Green Lane, Freshfields Village is located at the crossroads of Kiawah, Seabrook and Johns Island at the end of Betsy Kerrison Parkway. 

The center is on the sole access road to both Kiawah and Seabrook Islands and is the only shopping center serving both islands; the closest grocery-anchored center is 11 miles away.

The HFF debt placement team representing the borrower was led by managing director Mark Remington.

“This was a win-win for borrower and lender by allowing Northwood to recapitalize and take advantage of the current low rate environment and Guggenheim to invest in a high quality asset with a repeat client,” Remington said.

  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 |

No comments: