Holliday Fenoglio Fowler Arranges Financing for Properties in California, Illinois and Texas

 Albertson’s and Rite Aid-anchored retail center In San Diego Refinanced for $10.8M

IRVINE, CA – The Orange County office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $10.8 million refinancing for Tierrasanta Town Center, a 126,315-square-foot Albertson’s and Rite Aid-anchored retail center in the Tierrasanta submarket of San Diego, California.

HFF director Mark Erland worked on behalf of the borrower, Terramar Retail Centers, to secure the six-year fixed-rate loan with a 30-year amortization through Aetna Life Insurance Company. Loan proceeds were used to pay off an existing insurance company loan on the property that was maturing.

“In addition to a term, amortization and rate that met the borrower’s expectations, Aetna was able to provide a loan approval upon loan application, which provided certainty in what has been a challenging financing market,” said Erland. “Aetna was able to understand the center’s favorable real estate fundamentals in order to mitigate any market risk.”

Contacts:

Mark J. Erland, CA License # 01222797, HFF Director, (949) 798-4113, merland@hfflp.com
Kristen M. Murphy, HFF Associate Director Marketing, (713) 852-3500, krmurphy@hfflp.com

Suburban Chicago Multi-housing Complex Obtains 10-Year Loan

CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged acquisition financing for Waterford Place, a 280-unit multi-housing complex in Arlington Heights, Illinois.

HFF director Matthew Schoenfeldt (middle left photo)  worked on behalf of the borrower, Waterford Place Apartments, LLC, to secure the 10-year, fixed-rate loan through Freddie Mac (Federal Home Loan Mortgage Corporation).

Waterford Place Apartments, LLC is a partnership between Legacy Real Estate Development, LLC of Deerfield, Illinois, and Tarson Investments, LLC.

The investors purchased Waterford Place from an institutional seller, who was represented by HFF’s multi-housing investment sales team. In addition to acquiring the property, the investors are seeking to deploy an additional $50 million of equity into income-producing real estate assets.

“Freddie Mac continues to be a very attractive option for stabilized, institutional-quality apartment product such as Waterford Place,” said Schoenfeldt. “Their CME program is clearly the most attractive multi-housing financing option available today in terms of pricing and proceeds.”

Contacts:

Matthew R. Schoenfeld, HFF Director, (312) 528-3650, mschoenfeldt@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500 krmurphy@hfflp.com


HFF arranges refinance of GSA-leased facility in McAllen, TX

HOUSTON, TX – The Houston and Dallas offices of HFF (Holliday Fenoglio Fowler, L.P.)  have arranged a financial joint venture for 3000 West Military Highway, a 68,564-square-foot facility fully leased to the General Services Administration (GSA) in McAllen, Texas.

The HFF team, led by senior managing directors Dan Miller (bottom right photo) and Mona Carlton (bottom left photo)  and real estate analyst Trent Agnew represented the owner, McAllen CBP, LLC. A private real estate group entered into a joint venture with the owner and assumed existing debt as part of the agreement.

Completed in 2009, 3000 West Military Highway is fully leased to the GSA (Department of Homeland Security - Customs & Border Protection) and serves as a flagship processing and administration facility, a regional emergency headquarters and a maintenance facility for vehicles used by the U.S. Customs and Border Patrol (CBP).

 The property accommodates more than 350 CBP agents and is situated on nearly 24 acres that is conveniently located between the old and new international bridges, which connect McAllen and Hidalgo, Texas, with Reynosa, Mexico.

McAllen CBP, LLC is a joint venture partnership between FD Partners, LLC, an Arlington, VA-based development and services company that focuses exclusively on the federal government real estate sector, and Live Oak-Gottesman, an Austin, TX-based full-service real estate firm.

Contacts:
H. Dan Miller, CCIM, SIOR, HFF Senior Managing Director, (713) 852-3500, dmiller@hfflp.com
Mona K. Carlton, HFF Senior Managing Director, (214) 265-0880, mcarlton@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com