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| ShopRite Supermarket, 711 Central Avenue, Albany, NY |
FLORHAM PARK, NJ – HFF announced today that it has secured
$11.8 million in financing for a 65,000-square-foot freestanding ShopRite
supermarket in Albany, New York.
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| Jon Mikula |
Working exclusively on behalf of The Hampshire Companies, HFF placed the
seven-year, fixed-rate loan with a life insurance company. Loan proceeds were used to acquire the
property.
Constructed in 2012, the property is fully leased to Wakefern
Corporation, who operates the ShopRite supermarket. The store is located at 711 Central Avenue close to Interstate 90
in northwest Albany.
The
HFF team representing The Hampshire Companies was led by director Michael
Klein and senior managing director Jon Mikula.
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| Michael KLein |
“The
rate was originally locked 12 months ago as a forward commitment,” said
Klein. “This enabled the borrower to
take the interest rate risk off the table while they completed this complex
acquisition structure.”
The Hampshire Companies is a full-service, private real
estate firm with equity in assets valued at more than $2.5 billion, based in
Morristown, New Jersey. The Hampshire
Companies is a vibrant, dynamic organization that combines creative vision and
superior execution, thereby enabling it to create and enhance value in real
estate investments. www.hampshireco.com.
For a complete
copy of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel (main) 617-338-0990 | (direct) 617-338-1572 | cel
617.543.4873 | www.hfflp.com
.
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