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| Winter Haven, FL Citi Centre |
MIAMI, FL – HFF announced today that it has arranged a $13.4
million senior loan for Winter Haven Citi Centre, a 185,705-square-foot,
power center located in Winter Haven, Polk County, Florida.
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| Chris Drew |
HFF
worked exclusively on behalf of the borrower, Winter Haven Citi Centre, LLC, a
partnership controlled by Schmier & Feurring Properties, Inc., and
Independencia Asset Management, LLC to secure the 10-year CMBS loan.
Winter Haven Citi Centre is located at the intersection of
Highway 17 and Avenue K, SW in Winter Haven, approximately 50 miles east of
Tampa. The center is 96.8 percent
leased to prominent national tenants including Macy’s, Belk, Staples and Pier
One Imports.
Redeveloped in 2000, the center is situated on a 29.55-acre
site and is shadow anchored by a Lowe’s Home Improvement Store.
The
HFF debt placement team representing the borrower was led by director Chris
Drew and senior analyst Jose Carrazana.
“Despite the recent turbulence in the capital markets, it’s
a great time to be a borrower. Lenders
are aggressively pursuing quality assets and quoting rates that are well below
historical averages,” said Drew.
HFF’s
debt placement team secured more than $3.9 billion in financing for retail
assets nationally in 2012. HFF closed
more than $680 million in retail transactions across all capital markets
platforms in the state of Florida during 2012.
For a complete
copy of he company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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