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| Collins Road Square, Cedar Rapids, IA |
CHICAGO, IL – HFF announced today that it has arranged a
$9.2 million financing for Collins Road Square, a 168,104-square-foot
retail center in suburban Cedar Rapids, Iowa.
HFF worked on behalf of Alex Brown Realty, Inc. to secure
the three-year, interest-only financing through Resource Capital Corp.
(NYSE:RSO), a commercial mortgage REIT.
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| Matthew Schoenfeldt |
Proceeds from the loan were used to refinance existing debt on the
property and to provide for future re-tenanting expenditures as ownership
secures new leases.
Collins Road Square is located at 1400 Twixt Town Road
across from Lindale Mall in suburban Cedar Rapids. Renovated in 2011, the property is 79 percent leased and is
anchored by Michael’s. Other tenants
include Collins Road Theaters, Pier One Imports and David’s Bridal.
The HFF team representing the borrower was led by managing
director Matthew Schoenfeldt and senior real estate analyst Ed
Halaburt.
Alex Brown Realty, Inc. (ABR) is a privately owned real
estate investment manager organized in 1972 and headquartered in Baltimore,
Maryland. ABR co-invests with joint
venture partners in a broad spectrum of property types located throughout the
United States.
For a complete copy of the company’s news release, please
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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