Saturday, June 7, 2014

HC Real Estate Capital Arranges $4.7 Million in Acquisition Financing for Shopping Center In St. Petersburg, FL

  

 St. Petersburg, FL – Kurt Hoffmann and Chris Caveglia of HC Real Estate Capital have arranged $4,700,000 in acquisition financing for a shopping center located in St. Petersburg, FL.  HC Real Estate Capital worked with the borrower to secure a 10-year loan with a local lender at a competitive interest rate.

Central Plaza is a 74,600 square foot retail shopping center that is 92% leased. The shopping center is anchored by Goodwill, Citi Trends, Payless Shoe Source, and Family Dollar. The property is located in an infill location within a densely populated, urban trade area that is approximately two miles west of downtown St. Petersburg and situated adjacent to a Wal-Mart supercenter.

Chris Caveglia, Principal at HC Real Estate Capital states, “The borrower was able to lock in low, long-term acquisition financing for this shopping center.”

HC Real Estate Capital, LLC is a privately owned mortgage-banking firm founded by Kurt Hoffmann and Chris Caveglia.  Based in Delray Beach, Florida, HC Real Estate Capital arranges permanent commercial and multifamily real estate loans.  The company has a broad capital provider base that includes insurance companies, CMBS lenders, pension fund advisors and commercial banks.

For a complete copy of the company’s news release, please contact:

Chris Caveglia
HC Real Estate Capital, LLC
660 Linton Blvd. Ste 200 EX5
Delray Beach, FL 33444
Direct: 561-266-3273
Mobile: 561-376-3176

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