HFF secures $12.5M refinancing of suburban Chicago shopping center

FLORHAM PARK, NJ – The New Jersey and Chicago offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have secured a $12.5 million refinancing for Baker Hill Shopping Center, (top right photo)  a 135,355-square-foot, grocery-anchored shopping center in Glen Ellyn, Illinois.

Working exclusively on behalf of Columbia Retail Baker Hill, LLC, a joint venture managed by Regency Centers, HFF managing director Jim Cadranel (middle left photo) l and director Matthew Schoenfeldt (bottom right photo)  placed the five-year, fixed-rate loan with Ladder Capital Finance. This was the second financing for Regency Centers placed by HFF within the last nine months.

“We are pleased to have arranged this financing for Regency Centers in a difficult market,” said Cadranell.

Baker Hill Shopping Center is located at 830 Roosevelt Road at the intersection of Roosevelt Road and Baker Hill Drive in Glen Ellyn, approximately 23 miles west of downtown Chicago. Completed in 1999, the property is 93% occupied and is anchored by Dominick’s Finer Foods, a wholly-owned subsidiary of Safeway, Inc.

Regency Centers is a publicly-traded national owner, operator, and developer of grocery-anchored and community shopping centers.

Ladder Capital Finance LLC is a specialty finance company that specializes in the origination of commercial mortgage loans primarily to be held in its investment portfolio. Ladder Capital is fully integrated with in-house direct origination, underwriting and asset-management capabilities.


The company was formed in October 2008 and is comprised of a highly experienced team of industry veterans that ran the loan origination groups of major financial institutions including UBS and CSFB. Ladder Capital’s personnel have deep relationships and expertise in all aspects of commercial real estate lending and investment.

Contacts:


James A. Cadranell, HFF Managing Director, (973) 549-2000, jcadranell@hfflp.com

Matthew R. Schoenfeldt, HFF Director, (312) 528-3650, mschoenfeldt@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com