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| Bangor Parkade, 482 Stillwater Avenue, Bangor, ME |
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| James Koury |
BOSTON,
MA – HFF announced today that it has closed the sale of and arranged financing
for Bangor Parkade, a 233,000-square-foot power center anchored by Kohl’s
in Bangor, Maine.
HFF
marketed the property on behalf of the seller, Retail Properties of America,
Inc. GM Realty of Bangor, LLC purchased
the asset for $26.25 million free and clear of debt.
HFF also assisted the buyer with arranging an $18.5 million,
fixed-rate acquisition loan through Cantor Commercial Real Estate Lending,
L.P.
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| Jim Cadranell |
Bangor
Parkade is situated on 27.85 acres at 482 Stillwater Avenue, shadow-anchored by
the Bangor Mall and directly off of Interstate 95 in Bangor. Completed in 2005, the property is 99.7
percent leased by tenants including Kohl’s, Old Navy, AC Moore, Big Lots, ULTA,
LL Bean and PetSmart.
The HFF
team representing the seller was led by senior managing director Jim Koury.
HFF’s
debt placement team representing the buyer/borrower was led by managing
director Jim Cadranell and senior managing director Jon Mikula.
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| Jon Mikula |
Retail
Properties of America, Inc. is a fully integrated, self-administered and
self-managed real estate investment trust that owns and operates high quality,
strategically located shopping centers across 34 states. The company is one of the largest owners and
operators of shopping centers in the United States.
The company is publicly traded on the New
York Stock Exchange under the ticker symbol RPAI. Additional information about
the company is available at www.rpai.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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