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