HFF closes $103M sale and $70.7M financing for Roosevelt Raceway Center in Westbury, NY

NEW YORK, NY – The New York office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it closed the sale of and financing for Roosevelt Raceway Center, a 427,000-square-foot retail power center in Westbury, New York.

HFF senior managing director Glenn Whitmore (top right photo) and managing director Robert Delitsky (top left photo) exclusively represented the buyer, The Mattone Group and Gartenstein Properties in the $103 million purchase of the property from ING Clarion Partners, LLC.

HFF also arranged the $70.7 million fixed-rate acquisition loan with New York Community Bank.

Roosevelt Raceway Center is located along Corporate Drive in the Long Island suburb of Westbury. Completed in 1995, the property is currently 100% leased to tenants including Home Depot, Home Depot Expo, Michael’s, Babies “R” Us, Sprint, Loew’s Theatre, Applebee’s and Chili’s.

The Mattone Group is a Queens-based development company that currently owns and manages approximately 2.0 million square feet of commercial property in the New York Metro area.

Gartenstein Properties is located in Brooklyn, New York and is active in the development of multifamily and commercial projects in Brooklyn and in the New York metropolitan area.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.

(At bottom right, Roosevelt Raceway grandstand in 2000 before it was demolished for a retail project.)

CONTACTS:

Glenn E. Whitmore, HFF Senior Managing Director, 212 245 2425, gwhitmore@hfflp.com

Robert Delitsky,HFF Managing Director, 212 245 2425, rdelitsky@hfflp.com

Laurie Fish McDowell, HFF Asociate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com