WASHINGTON, D.C. – HFF announced today that it has secured a $50 million refinancing for Bayfair Center (top left photo), an 813,307-square-foot retail center in San Leandro, California.
HFF worked exclusively on behalf of Madison Marquette Retail Enhancement Fund to secure the five-year, adjustable-rate loan through Guggenheim Commercial Real Estate Finance.
Bayfair Center is located at 15555 East 14th Street in the suburban East Bay community of San Leandro. Renovated in 2008, the property is a hybrid power center with an interior mall component.
Currently 97 percent leased, Bayfair Center serves a population of more than 825,000 within a 10-mile radius, with a median household income of more than $83,000.
Tenants include Macy’s, Target, Kohl’s, Staples, Old Navy, PetSmart, Bed Bath & Beyond, 24 Hour Fitness and Cinemark Century 16 Theater.
The HFF team representing Madison Marquette Retail Enhancement Fund was led by managing director Mark Remington (lower right photo) and senior managing director Bruce Ganong (lower left photo)
“The outcome here represents a big win for our client, allowing them to recapitalize and finish the repositioning process on the property that was started when it was acquired,” Remington said.
Contacts:
MARK REMINGTON
HFF Managing Director
(202) 533-2500
BRUCE GANONG
HFF Senior Managing Director
(415) 276-6300
MYRA MOREN
HFF Director, Marketing
(713) 852-3500
No comments:
Post a Comment