Wednesday, February 4, 2015

HFF arranges $8.6 million financing for Class A specialty retail center in Tucson, AZ


Paloma Village Center, 6330--6370 North Campbell Avenue, Tucson, AZ

Josh Simon

DENVER, CO – HFF announced it has arranged $8.6 million in acquisition financing for Paloma Village Center, a 37,739-square-foot, Class A specialty retail center in Tucson, Arizona.

                HFF worked on behalf of the borrower, Hannay Realty Advisors, LP, a subsidy of MCD Realty Advisors, Inc., to secure a 3.52 percent, seven-year fixed-rate loan through Nationwide Life Insurance Company.  HFF will service the loan.   

Paloma Village Center is situated on 4.49 acres at 6330-6370 North Campbell Avenue in the upscale Catalina Foothills region of northern Tucson.

 The center is at the intersection of North Campbell and Skyline Drive and part of a 12.9-acre mixed-use development that also includes a two-story office building and a 120-room flagship Embassy Suites Hotel, which were not included in the financing. 

Completed in 2004, the center is 94 percent leased to CVS, Starbucks and Flemings Steakhouse. 

The HFF team representing the borrower was led by managing director Josh Simon and real estate analyst Matt Gangaware. 

“Paloma Village Center is located at arguably the best retail corner in Tucson,” Simon said.  “The ability to showcase the amazing location and diversification of tenancy helped drive significant interest from our life insurance company lenders.”

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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