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| Davis Ford Crossing, 9890 Liberia Avenue, Manassas, VA |
WASHINGTON,
DC – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $33.75
million in refinancing for Davis Ford
Crossing, a 152,391-square-foot neighborhood shopping center with multiple
national anchors in Manassas, Virginia.
 |
| Mark Remington |
HFF worked
on behalf of the borrower, Rappaport, to secure the 10-year, 4.34-percent,
fixed-rate loan with Principal Real Estate Investors. HFF will service the securitized loan.
Between 2013
and 2014, Rappaport completed almost $2 million in renovations and enhancements
to Davis Ford Crossing, securing LA Fitness as a new anchor tenant in the
process.
The 97.5-pecent-leased shopping center is home
to three other anchors, Staples, Petco and CVS, and in-line tenants including
Sleepy’s and GNC.
McDonald’s, United
Bank, Arby’s and Exxon occupy outparcel pads, and an additional 2,670-square-foot
pad site is available for future development.
The center is situated on 20.7 acres at 9890
Liberia Avenue in Manassas, a suburb 33 miles west of Washington, D.C. Located at the intersection of Liberia Avenue
and Prince William Parkway, the center is in the heart of the southern Manassas
retail corridor and near multiple grocers and residential neighborhoods.
 |
| Robert Carey |
The HFF debt
placement team representing the borrower was led by managing director Mark Remington and senior real estate
analyst Robert Carey.
“Congratulations
to Rappaport and Principal,” Remington said.
“This transaction created a win for both parties, allowing Rappaport to
buy out its capital partner while creating a valuable loan asset for
Principal.”
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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