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| West Sunset Square shopping center, 15705-15789 SW 72nd Street, West Kendall, FL |
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| Danny Finkle |
MIAMI, FL – HFF announced today that it has closed the sale
of and arranged acquisition financing for West Sunset Square, an
82,789-square-foot retail center in the Miami submarket of West Kendall.
HFF
marketed the property on behalf of the owner.
HFF’s debt placement team also arranged the acquisition financing on
behalf of the buyer, an affiliate of Rialto Capital Management.
Completed in 2009, West Sunset Square is 72 percent leased to tenants
including Walgreens, Valsan and Planet Fitness. The property is situated on 8.82 acres at 15705-15789 SW 72nd
Street about 16 miles southwest of downtown Miami.
The
HFF investment sales team representing the seller was led by director Luis
Castillo and senior managing director Danny Finkle. HFF director Chris Drew and senior
real estate analyst Nat Scarmazzi represented the borrower in the
financing of the transaction.
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| Chris Drew |
HFF’s investment sales team secured more
than $1.7 billion in sales of retail assets nationally through third quarter of
2013. In Florida, HFF closed more than
$476 million in retail transactions across all capital markets platforms over
the same period.
Rialto Capital Management (“Rialto”), a wholly-owned
subsidiary of Lennar Corporation (NYSE: LEN), is a vertically integrated real
estate investment management company focused on distressed and value-add
investments and asset management, workout and turn-around strategies.
Rialto was formed in 2007, and, since its inception, has
participated in the investment of billions of dollars in distressed real estate
assets and commercial mortgage-backed securities (“CMBS”).
Rialto is
headquartered in Miami, FL with offices across the United States. For more information, please visit www.rialtocapital.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
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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