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| Yorkville Marketplace, Yorkville, IL |
CHICAGO, IL – HFF announced today that it has arranged an
$11 million refinancing for Yorkville Marketplace, a 111,591-square-foot
grocery-anchored retail center in Yorkville, Illinois.
HFF worked on behalf of TDC Yorkville Shopping Center I
& II, LLC, a joint venture sponsored by Tucker Development Corporation, to
secure the adjustable-rate loan through Prime Finance.
Yorkville Marketplace is located at the intersection of US
Route 34 and Illinois Route 47 approximately one hour southwest of downtown
Chicago.
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| Tim Joyce |
The 93 percent leased
property, which was completed in 2002 (Phase I) and 2007 (Phase II), is
anchored by Jewel-Osco and Office Max.
In addition, Phase II of the center contains pad-ready sites that can
support approximately 52,600 square feet of future retail development.
The HFF team representing the borrower was led by managing
director Timothy Joyce, director Daniel Kaufman and associate
director Amy Sands.
Founded in 1996, Tucker Development Corporation specializes
in the development of shopping centers and mixed-use properties in Illinois,
Wisconsin, Michigan, Pennsylvania and New Jersey.
 |
| Daniel Kaufman |
The company is one of the most reliable developers in its
respective markets, developing and managing properties totaling approximately
five million square feet.
For more information on Tucker Development Corporation,
visit www.tuckerdevelopment.com.
Prime Finance is a private commercial real estate finance company with
discretionary capital, which directly originates mortgage, mezzanine and
preferred equity financing and also acquires performing, sub-performing and
distressed debt.
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| Amy Sands |
The company offers a
variety of fixed- and floating-rate non-recourse loans greater than $10 million
on office, retail, hotel, industrial, multifamily, mobile home, self storage
and mixed-use properties in all markets around the United States.
Prime Finance was formed in June 2008 by San
Francisco-based Prime Group and currently has more than $2.5 billion of assets
and surplus capital. The company
principals have decades of collective commercial real estate lending and
investing experience and have closed more than $20 billion of loans across in
more than 850 transactions in the last 10 years.
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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