Sunday, February 7, 2016

HFF arranges $61 million refinancing for four-property retail portfolio in Illinois, Indiana and the Carolinas

Merchant’s Village  Shopping Center, 520 Folly Beach Road, Charleston, SC

Jim Cadranell
FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a $61 million refinancing for a four-property portfolio of grocery-anchored shopping centers totaling 542,683 square feet in Illinois, Indiana, North Carolina and South Carolina.

HFF worked on behalf of the borrower, a co-investment partnership between Regency Centers, LP and Global Retail Investors, LLC (a joint venture between CalPERS and First Washington Realty, Inc.), to place four separate 10-year, fixed-rate, interest-only loans totaling $61 million with Sentinel Asset Management.  Loan proceeds are being used to refinance existing debt.

The shopping centers included in the portfolio are: Civic Center Plaza at 7801 North Waukegan Road in Niles, Illinois; Willow Lake West at 2902 West 86th Street in Indianapolis, Indiana; Merchant’s Village at 520 Folly Beach Road in Charleston, South Carolina; and The Shoppes of Kildaire at 1394 Kildaire Farm Road in Cary, North Carolina.  The portfolio is 97.8 percent leased to a total of 73 tenants, including Trader Joe’s, Publix, Super H-Mart, Home Depot, Staples, Starbucks, Panera Bread and Pier 1 Imports. 

The HFF debt placement team representing the borrower was led by senior managing director Jim Cadranell.

“It was a pleasure to work with the Regency team to find the most competitive financing in the market for these shopping centers,” Cadranell said.  “Sentinel Asset Management is a new capital source for Regency, so both lender and borrower are pleased with the outcome.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
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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