 |
| Lloyd Center Mall Rendering by Waterleaf, Lloyd District, Portland, OR |
DALLAS, TX –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has arranged a financing commitment of
$177 million for Lloyd Center, a
1.27 million-square-foot regional shopping center with office space in
Portland’s Lloyd District.
 |
| Lloyd Center Mall Rendering by Waterleaf |
HFF worked on behalf of
the sponsor, Cypress Acquisition Partners Retail Fund, an affiliate of Cypress
Equities, to secure the floating-rate loan through an affiliate of KKR Real
Estate Finance Trust Inc.
Loan proceeds
will be used to finish executing a capital improvement plan and facilitate new
leasing.
Lloyd Center was
originally constructed in 1960 and underwent renovations in 1991 and 2006 prior
to the current renovations, which began in 2014. With more than 130 tenants, the property is
home to Macy’s, H&M, Marshalls, Barnes & Noble, PacifiCorp, Forever 21
and a variety of office tenants.
Working with local
Portland firm Waterleaf Architecture, Interiors and Planning, improvement plans
include converting space previously occupied by retail tenants into creative
office space, enhancing connectivity to nearby office and multi-housing
developments, reconfiguring the ice rink and updating the food court, flooring,
entrances and storefronts.
 |
| Cullen Alderhold |
Additionally, improvements to the lighting and
mechanical systems will make the property more energy efficient. Lloyd Center is located in the mixed-use area
known as the Lloyd District, a live-work-play neighborhood northeast of central
Portland.
The center is adjacent to
Interstate 84, the region’s main east-west transportation route, and close to
Interstate 5, Portland’s main north-south transportation corridor. TriMet’s MAX light rail and other public transportation
systems provide direct access to the property.
The HFF team representing
the borrower was led by director Cullen
Aderhold, senior managing director Trey
Morsbach and managing director Tom
Wilson.
For a complete copy of the company’s news release,
please contact:
KRISTEN M. MURPHY
HFF Associate Director,
Marketing
(617) 338-0990
No comments:
Post a Comment