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| The Plaza at Delray, Delray Beach, FL |
DENVER, CO – HFF announced today that it has arranged a $46
million financing for The Plaza at Delray, a 328,989-square-foot,
grocery-anchored shopping center in Delray Beach, Florida.
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| Eric Tupler |
Working exclusively on behalf of Heitman and
Ramco-Gershenson Properties Trust, HFF placed the 10-year, 4.43 percent,
fixed-rate loan with one of their correspondent lenders, Allianz Real Estate of
America on behalf of Allianz Life Insurance Company of North America.
The Plaza at Delray is situated on 35.39 acres at the
intersection of Linton Boulevard and South Federal Highway (US-1) north of Boca
Raton. Renovated in 2002, the center is
97.9 percent leased and is anchored by Publix.
Other major tenants include Marshalls, Ross Dress for Less, T.J. Maxx,
CVS, Michaels, Anna’s Linens and ULTA Salon.
 |
| Chris Drew |
The HFF team representing the borrower was led by senior
managing director Eric Tupler, director Chris Drew and real
estate analysts Kristian Lichtenfels and Leon McBroom.
Heitman is a global real estate investment management firm
with $27.1 billion in assets under management.
The firm focuses on three lines of business: private real estate equity, public real estate securities and
real estate debt. Heitman’s clients
include public and corporate pension funds, endowments and foundations, and
private investors.
 |
| Leon McBroom |
Ramco-Gershenson Properties Trust (NYSE:RPT) is a fully
integrated, self-administered, publicly-traded real estate investment trust (REIT)
based in Farmington Hills, Michigan.
The company's business is the ownership and management of multi-anchor
shopping centers in strategic metropolitan markets throughout the Eastern,
Midwestern and Central United States.
At June 30, 2013, the company owned and managed a portfolio
of 79 shopping centers and one office building with approximately 15.2 million
square feet of gross leasable area owned by the company or its joint
ventures.
The properties are located in
Michigan, Florida, Ohio, Georgia, Missouri, Colorado, Wisconsin, Illinois,
Indiana, New Jersey, Virginia, Maryland and Tennessee. At June 30, 2013, the company's core
operating portfolio was 95.1 percent leased.
.
For a complete
copy of the company’s news release, please contact:
Olivia Hennessey
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
ohennessey@hfflp.com
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