Friday, November 8, 2013

HFF arranges $54.2 million bridge loan for RiverCenter Mall redevelopment in San Antonio, TX




                        Former Joske's Department Store, 1910 painting, San Antonio, TX

RiverCenter Mall, Downtown San Antonio, TX
DALLAS, TX – HFF announced today that it has arranged a $54.2 million construction loan for the redevelopment of the historic Joske’s Building at the RiverCenter Mall, a tourist-oriented retail mall along San Antonio’s River Walk.

HFF worked exclusively on behalf of the borrower, Ashkenazy Acquisitions Corporation, to secure the bridge facility through Cornerstone Real Estate Advisers, on behalf of a Cornerstone managed fund.  

Loan proceeds will be used for the redevelopment of the historic building.

Trey Morsbach
Built in 1887 as the original location of Joske’s Department Store, the property is situated at the corner of Alamo and Commerce Streets overlooking the historic Alamo Plaza in San Antonio’s central business district. 

Joske’s occupied the space until 1987 at which time Dillard’s moved into the space until its departure in 2008.  The mall redevelopment will include a variety of retail, restaurant and entertainment tenancy.

The HFF team representing Ashkenazy Acquisitions Corporation was led by senior managing director Trey Morsbach, executive managing director John Pelusi and associate director Cullen Aderhold.

John Pelusi
Headquartered in New York City, Ashkenazy Acquisition Corporation is a private real estate investment firm focusing on retail and office assets. Ashkenazy Acquisition has acquired over 13 million square feet of retail, office and residential properties, located throughout the United States and Canada.

With a portfolio containing more than 100 buildings valued at approximately $5 billion, Ashkenazy Acquisition has a superior performance history in purchasing and managing premier assets.

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
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


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