Monday, December 26, 2016

HFF closes sale of and arranges financing for Shops of Forest Hill in Germantown, TN

Shops of Forest Hill, Germantown, TN

Jim Hamilton
ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged acquisition financing for Shops of Forest Hill, a 343,855-square-foot community center located in Germantown, Tennessee.      

HFF marketed the center on behalf of the seller, Boyle Investment Company and Milton Schaeffer.  Epic Real Estate Partners purchased the asset free and clear of existing debt.  Additionally, working on behalf of the new owners, HFF placed the five-year acquisition loan with Wells Fargo Bank.

Shops of Forest Hill is a community center located in Germantown, the most affluent suburb of Memphis, and is anchored by Sprouts Farmers Market, Marshalls, Malco Cinemas and Target (shadow).

 The property is located on the “going home” side of Poplar Avenue, Germantown’s main east-west corridor, and the average household income within a one-mile radius of the property exceeds $170,000. 

Other national and regional tenants at the property include Mattress Firm, Sally Beauty, Hallmark, GNC, Mellow Mushroom, Allstate Insurance and Sherwin Williams.

The HFF investment sales team representing the seller was led by senior managing directors Jim Hamilton and Richard Reid and associates Brad Buchanan and Mike Allison.

Richard Reid
The HFF debt placement team representing the borrower was led by managing director Gregg Shapiro and director Kyle Spencer. 

“Shops of Forest Hill offered investors the rare opportunity to acquire a dominant community center with a dynamic tenant line-up and significant upside potential located in the highly sought after Germantown suburb of Memphis, Tennessee,” Hamilton said.

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

Kristen M. Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

No comments: