NEW YORK, NY – The New York office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured $47 million in financing for Cortlandt Towne Center, (top left photo) a 640,000-square-foot, regional shopping center in northwestern Westchester County, New York.Working exclusively on behalf of Acadia Realty Trust, HFF senior managing director Mike Tepedino (middle right photo) and director Steven Klein (bottom left photo) arranged the three-year, adjustable-rate loan with Bank of America.
Cortlandt Towne Center is located at 3131 East Main Street located on U.S. Route 6 in Mohegan Lake in Westchester County, New York. The property’s major tenants include Wal-Mart, A&P Food Market, Barnes & Noble, Best Buy and PetSmart.
The site is shadow-anchored by a 133,243-square-foot Home Depot.
“Being the dominant shopping center with limited competition of critical mass in northwestern Westchester County made this asset attractive to investors,” said Tepedino.
Acacia Realty Trust currently owns, or has ownership interests in, and operates 77 properties totaling in excess of 10 million square feet located primarily in the Northeast, Mid-Atlantic and Midwest United States.Contacts:
MICHAEL J. TEPEDINO, HFF Senior Managing Director , (212) 245-2425
STEVEN J. KLEIN, HFF Director, (212) 632-1838, sklein@hfflp.com
KRISTEN M. MURPHY, HFF Associate Director, Marketing, (713) 852-3500krmurphy@hfflp.com
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