Tuesday, November 26, 2013

HFF secures $145 million refinancing for The Mercato in Naples, FL

   
The Mercato, 9115 Strada Place,  along Tamiami Trail
(U.S. Highway 41) north of downtown Naples
. 


WASHINGTON, D.C. – HFF announced it has secured a $145 million refinancing for The Mercato, a 456,000-square-foot mixed-use development in Naples, Florida.

HFF worked exclusively on behalf of the borrower, a joint venture between Madison Marquette Retail Enhancement Fund, Barron Collier Companies and The Lutgert Companies to secure a five-year, floating-rate bridge loan through managing director Dan Martin and senior relationship manager Andy McLay at GE Capital Real Estate.

The Mercato is located at 9115 Strada Place along Tamiami Trail (U.S. Highway 41) north of downtown Naples

Chris Drew
Completed in 2009, the lifestyle center consists of approximately 320,000 square feet of retail and approximately 136,000 square feet of office space. 

The 14-building development is more than 85 percent leased and includes retail anchors such as Whole Foods, Silverspot Theatre and Nordstrom Rack.

The HFF team representing the borrower was led by managing director Mark Remington, director Chris Drew and associate director Jordan Lex. 

“GE Capital performed flawlessly, generating a huge win for our clients and this trophy asset, providing financing critical to the continuation of the successful business plan at The Mercato,” said Remington.

Jordan Lex
Madison Marquette (MM) provides a full range of real estate services for over 20 million square feet of retail and mixed-use properties throughout the United States. 

The company specializes in enhancing the value of retail assets through an integrated approach to leasing, property management, marketing and development services. 
MM has offices located in Charlotte, Dallas, Ft. Lauderdale, Los Angeles, New York, Philadelphia, San Diego, San Francisco, Seattle and Washington, D.C.  For more information, please visit www.madisonmarquette.com.

Barron Collier Companies (BCC), which traces its roots to County Founder Barron Gift Collier, today is one of the largest diversified companies in Southwest Florida.  

Daniel Martin
In addition to the responsible development, management and stewardship of numerous land holdings nationwide, BCC counts among its business ventures extensive agricultural operations, commercial, retail and residential real estate development, and oil exploration and mineral management.

The Lutgert Companies is acknowledged as one of Southwest Florida’s pre-eminent real estate development and brokerage companies. 

 The Lutgert Companies is privately held and has holdings in Lutgert Insurance, Premier Sotheby’s International Realty, Premier Commercial Real Estate and Lutgert Title, LLC. 

 The company is currently developing properties in Florida and North Carolina.  The Lutgert Companies has been a member of the Southwest Florida business community for fifty years, and has more than 200 employees and 515 sales associates.

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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