Monday, March 20, 2017

HFF closes $35.4 million sale of and arranges $23.1 million acquisition financing for St. Louis-area retail center

Lincoln Place Shopping Center, Fairview Heights, IL

CHICAGO, IL,  March 20, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $35.4 million sale of and arranged $23.1 million in acquisition financing for Lincoln Place, a 272,060-square-foot shopping center in the St. Louis-area community of Fairview Heights, Illinois.  

Amy Sands
HFF worked on behalf of the seller, Spirit Realty Capital.  Acadia Strategic Opportunity Fund IV purchased the asset.  Working on behalf of the new ownership, HFF also placed the five-year, fixed-rate acquisition loan with a national bank.

Lincoln Place is situated on 17 acres at 5905-6109 North Illinois Street at the “main and main” intersection of North Illinois and Lincoln Highway in Fairview Heights, which is 14 miles east of downtown St. Louis. 

Clinton Mitchell
The center is considered to be in the most dominant retail location in southern Illinois, with more than 125,600 vehicles a day passing the center and its position south of Interstate 64 and Illinois Street.

Lincoln Place is 99.6 percent leased to a mix of national tenants, including Kohl’s, Ross Dress for Less, Old Navy, Marshalls, Famous Footwear, Five Below, Pier 1 Imports, Saint Louis Bread Company and Mattress Firm, in addition to a separately owned Lowe’s, Chili’s and Chick-fil-A.  The center was developed in 1999 and renovated in 2005.

The HFF investment sales team representing the seller was led by directors Amy Sands and Clinton Mitchell.

The HFF debt placement team representing the new owners was led by managing director Timothy Joyce.

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

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


No comments: