HFF secures $11.75 million mezzanine loan for Shops Around Lenox in Atlanta’s Buckhead neighborhood

 ATLANTA, GA – HFF announced today that it has secured an $11.75 million mezzanine loan for Shops Around Lenox (top left photo) (http://www.shopsaroundlenox.com/), a 123,386-square-foot shopping center in the Buckhead neighborhood of Atlanta.

Working on behalf of Healey Weatherholtz Properties, LLC and Alex. Brown Realty, Inc., HFF placed the 36-month subordinate loan with Pearlmark Mezzanine Realty Partners III, L.L.C., a $427 million mezzanine fund operated by Pearlmark Real Estate Partners, L.L.C.  The loan proceeds will be used for leasing and capital costs for the Shops Around Lenox redevelopment including the recently executed lease with Crate & Barrel.

Originally built in 1979 and located between Neiman Marcus and the W Buckhead, Shops Around Lenox is Buckhead’s premier open-air shopping destination.  Merchants include Crate & Barrel, Tootsie’s, Lululemon, Cosabella and Paper Source.  The property is directly adjacent to Lenox Square Mall, and within walking distance of 3,000 hotel rooms, 4.5 million square feet of office space and six department stores.

The HFF team representing the borrowers was led by managing director Matthew Schoenfeldt (middle right photo) and senior managing director Mark Sixour (lower left photo).

Healey Weatherholtz Properties, LLC is an Atlanta-based real estate company and operator of retail properties.  HWP collaborates with leading merchants to re-develop premium locations nationwide. .

Alex. Brown Realty, Inc. (www.abrealty.com) is a privately-owned real estate investment manager organized in 1972 and headquartered in Baltimore, Maryland.  ABR co-invests with clients and joint venture partners in properties located throughout the United States.

Contacts:

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

Mark D. Sixour, HFF Senior Managing Director, (404) 832-8460                                       

msixour@hfflp.com                      

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

krmurphy@hfflp.com