SAN FRANCISCO, CA – The San Francisco office of HFF (Holliday Fenoglio Fowler, L.P.) announced today the recent closing of a $13.6 million refinancing for Novato Fair Shopping Center, (top left photo) a 133,860-square-foot retail center in Novato, California.HFF managing director Bruce Ganong and associate director Zane Sweet worked on behalf of Kimco Realty Corporation to secure the three-year, adjustable-rate loan through Wells Fargo Bank.
Loan proceeds retired an existing loan that matured in April 2009.
Novato Fair Shopping Center is occupied by anchor tenants including Safeway, Rite Aid, Big Lots, and Pet Food Express. Situated on an 11.2-acre site, the property is located at the convergence of three main thoroughfares in Novato: Redwood Boulevard, Novato Boulevard and Diablo Avenue, approximately 30 miles north of San Francisco.
“The closing of this transaction is evidence that best-in-class properties with institutional quality ownership can still be financed at attractive terms,” said Ganong.
Kimco Realty Corporation, a real estate investment trust (REIT), owns and operates the nation's largest portfolio of neighborhood and community shopping centers.
As of December 31, 2008, the company owned interests in 1,950 properties comprising 182 million square feet of leasable space across 45 states, Puerto Rico, Canada, Mexico, and South America.
Publicly traded on the NYSE under the symbol KIM and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for 50 years. For further information, visit the company's web site at http://www.kimcorealty.com/.
Contacts:Bruce Ganong, HFF Senior Managing Director, 415 276 6300, bganong@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,
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