PORTLAND, OR – The Portland office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged $74 million in financing for Trolley Square, (top photo) a four-building upscale lifestyle center in Salt Lake City, Utah.Working exclusively on behalf of ScanlanKemperBard Companies, HFF senior managing director Lloyd Minten (top right photo) placed the $74 million loan with Bank of America as Administrative Agent, in syndication with Wachovia.
The financing recapitalizes an existing adjustable-rate loan that was arranged by HFF in 2006 to facilitate the acquisition and redevelopment of the site. The 2006 acquisition was arranged by the HFF investment sales group on behalf of Simon Property Group. 
“HFF was able to secure attractive financing that provided flexibility for the borrower to complete their business plan and finish the renovation of the property,” said Minten.
“The renovation will include the addition of four retail buildings totaling 86,000 square feet, one of which will be occupied by Whole Foods and will open first quarter of 2010.”
Originally built in 1908 as a trolley car barn complex, Trolley Square is listed on the National Register of Historic Places and is designated a Utah Historic Site. Trolley Square currently houses 32 tenants reflecting 61% occupancy.
“Through the expansion of Pottery Barn, Williams Sonoma and the addition of West Elm, the presence of the Williams Sonoma Group will increase by 100% to over 47,000 square feet among its four venues (Pottery Barn, Pottery Barn Kids, William Sonoma and West Elm) at Trolley Square.
"SKB plans to continue the mix of strong local specialty retailers with national tenants to provide shoppers with the unique experience that sets Trolley Square apart from every shopping experience in Salt Lake City.”
ScanlanKemperBard Companies, LLC founded in 1993, is a real estate merchant banking company that actively seeks moderate to high yielding invest
ments in the Western United States. SKB has acquired over $2.5 billion in real estate since 1996. Its mission is the creation and retention of wealth through real estate for its investors and principals, in that order.
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. c
ommercial 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.
ments in the Western United States. SKB has acquired over $2.5 billion in real estate since 1996. Its mission is the creation and retention of wealth through real estate for its investors and principals, in that order.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. c
ommercial 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.CONTACTS:
Laurie Fish McDowell
HFF Associate Director, Marketing
HFF Associate Director, Marketing
One Post Office Square, Suite 3500 Boston, MA 02109tel 617.338.0990 fax 617.338.2150 http://www.hfflp.com/
lmcdowell@hfflp.com
Lloyd L. Minten
HFF Senior Managing Director
(503) 224-0444
lminten@hfflp.com
