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| Bassett Place, 6101 West Gateway, El Paso, TX |
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| Trey Morsbach |
DALLAS, TX –
Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $65.5 million
refinancing for Bassett Place, a
595,399-square-foot regional mall in El Paso, Texas.
HFF worked
on behalf of the borrower, Cypress Equities, to secure the 10-year, fixed-rate
loan with Goldman Sachs Mortgage Company.
HFF is servicing the securitized loan, which will be used to pay off
existing debt and fund food court renovations and the new Dave & Buster’s
addition.
With more
than 17.9 million visitors annually, Bassett Place is one of El Paso’s most
popular shopping destinations.
Currently, the mall’s 595,399 square feet is
home to seven anchor tenants, including Target, Kohl’s, Marshalls, Ross Dress
for Less, Office Depot, Conn’s and Premiere Cinemas IMAX; five restaurants and
41 shop tenants including Victoria’s Secret, David’s Bridal, Shoe Carnival, Rue
21, GameStop, Zales and Finish Line.
With the addition
of Dave & Buster’s as the eighth anchor tenant, the mall will expand to
606,717 square feet when completed in January 2016 and be 96.3 percent
leased.
 |
| Bill Fishel |
Situated on
44 acres at 6101 West Gateway where
it intersects with Geronimo Drive at Interstate 10, the mall is 2.4 miles from
Fort Bliss, the second largest military base in the U.S. and home to more than
73,000 soldiers and family members, and 6.2 miles from the Bridge of the
Americas border crossing connecting El Paso to Ciudad Juarez, Mexico.
The HFF team
representing the borrower was led by senior managing director Trey Morsbach, director Bill Fishel and real estate analyst DJ Meagher.
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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