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| Cecily Nazario |
MIAMI, FL – HFF announced it has secured an $11.425 million
senior loan for Village Oaks, a 165,851-square-foot neighborhood shopping
center in Pensacola, Florida.
Working on behalf of RCG Ventures, HFF placed the 10-year, fixed-rate
senior loan with Prudential Mortgage Capital Company. Greg Krafcik, a director with Prudential Mortgage Capital, led
the transaction.
Village Oaks is located on a 14.7-acre site at 6241-6251 North Davis
Highway one mile south of the Interstate 10 interchange in Pensacola. The property was most recently renovated in
2013, and is 95.4 percent leased to a number of national and regional tenants
including Bealls, PetSmart, Planet Fitness, Party City, Cato and Plato’s
Closet.
 |
| Chris Drew |
The
HFF team representing the borrower was led by director Chris Drew and
real estate analysts Whitaker Leonhardt and Cecily Nazario.
HFF’s debt placement team has secured more than $533 million
in loans for retail assets nationally during the first quarter of 2014. In Florida, HFF has closed more than $134
million in retail transactions across all capital markets platforms during the same
period.
“The
competitiveness from lenders for this asset was unbelievable and the highly
attractive terms that the borrower was able to secure are a testament to the
quality of the asset and sponsorship coupled with the increased liquidity
flowing into the capital markets,” said Drew.
RCG
Ventures LLC (“RCG”) is a privately funded real estate investment group that
acquires and develops commercial real estate in the continental United
States. RCG is an experienced owner and
operator of commercial real estate with more than 70 properties totaling seven
million square feet.
 |
| Whitaker Leonhardt |
The company’s primary focus is value-add anchored shopping
centers with the potential for long-term ownership. In addition, the company selectively enters into joint ventures
with institutional partners. Founded in
November 2003, RCG has steadily grown its portfolio through direct investment.
It is the
combination of significant capital resources and operational expertise that
gives RCG a competitive advantage in the industry.
For a complete copy of the company’s news release, please
contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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