Tuesday, November 27, 2012

HFF arranges $81 million financing for Jamaica Center in Queens, NY



Jamaica Center, Queens, NY
NEW YORK, NY – HFF announced today that it has arranged an $81 million financing for Jamaica Center, a  mixed-use property located  in the Jamaica section of Queens, New York.

                HFF worked exclusively on behalf of the sponsor, Mattone Group LLC, to secure the 10-year, fixed-rate loan with Jefferies Loan Core LLC.

                Developed by Mattone Group LLC in 2002, Jamaica Center is an urban retail center, which includes a 15-screen, 3,300-seat theater, office space and a 375-space parking garage.

Robert Delitsky
Key retail tenants at the fully occupied center include a National Amusements theater, Old Navy, Bally Total Fitness, K&G Fashion Superstore and Walgreens.  The State of New York, through its Queens Educational Opportunity Center (QEOC) leases the entire office portion of the property. 

Jamaica Center is located at 15902 Jamaica Avenue directly north of John F. Kennedy International Airport in the southeastern part of Queens.  The property is served by three subway lines and 26 bus lines.

                The HFF team representing the sponsor was led by managing director Robert Delitsky.

Michael X. Mattone
“Throughout the years, Mattone Group LLC has done an outstanding job of developing commercial properties in the boroughs; Jamaica Center is a great example of this,” said Delitsky.  “In addition, Jeffries LoanCore had the vision to recognize the property’s dominant standing in the marketplace.”

“HFF did a superb job running the process and getting to a flawless closing,” stated Mattone Group LLC, CFO, Michael X. Mattone.

                Mattone Group LLC is a Queens-based commercial and residential development, management and construction company.

Contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

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