Done Deals: HFF arranges $37.5 million financing for Raleigh-area power center

Sunday, July 14, 2019

HFF arranges $37.5 million financing for Raleigh-area power center

Beaver Creek Crossing, a 321,000-square-foot retail power center in the Raleigh-area community of Apex, NC

CHARLOTTE, NC –– HFF announces that it has arranged $37.5 million in acquisition and renovation financing for Beaver Creek Crossing, a 321,000-square-foot retail power center in the Raleigh-area community of Apex, North Carolina.

Travis Anderson

HFF worked on behalf of the borrower, a partnership between Collett Capital and Long Warf Capital, to place the five-year, floating-rate loan with a life insurance company.

Completed in 2005, Beaver Creek Crossing is 96% leased to a strong line-up of national and regional tenants, including T.J.Maxx/HomeGoods, Regal Beaver Creek, Dick’s Sporting Goods, Old Navy, Five Below and Ulta Beauty.

The center is situated on 52 acres at 1479 Beaver Creek Commons Drive proximate to Highway 64 and Highway 540 (Triangle Expressway) in Apex, a rapidly growing Wake County community located southwest of Raleigh and known for its favorable, affluent demographics and high levels of home ownership.

The center serves as the premier retail hub for the surrounding residential communities and has a back entrance connecting the center to the dense residential population to the south.