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| 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.
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| 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.
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| 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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