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| Connecticut Post Mall, Milford, CT |
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| Claudia Steeb |
PITTSBURGH, PA –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has arranged $308.4 million in
financing for three shopping malls totaling 2.3 million square feet in
Connecticut, Illinois and Washington.
HFF worked on behalf of a
newly-formed joint venture partnership between Centennial Real Estate Company
(Centennial), Montgomery Street Partners/Blum Capital (MSP), USAA Real Estate
Company (USAA RealCo) and Westfield America to place three separate five-year
loans totaling $308.4 million with a lender group led by J.P. Morgan Chase
Bank, N.A. and participant lenders Aareal Capital Corporation and CIT Bank, NA.
The three shopping centers involved in the
financing are Connecticut Post Mall in Milford, Connecticut; Hawthorn Mall in
Vernon Hills, Illinois; and Vancouver Mall in Vancouver, Washington.
HFF also assisted
Centennial, MSP and USAA RealCo in connection with transfers under the existing
debt financing on two additional malls owned by the joint venture: Fox Valley Mall in Aurora, Illinois, and
MainPlace Mall in Santa Ana, California.
The five properties are
all considered super regional malls located in or near large U.S. cities, and
the malls have an average population of 618,474 residents living within a
five-mile radius.
The 96.9
percent-leased portfolio has diverse anchor tenants including JCPenney,
Nordstrom, Macy’s, Sears, Carson Pirie Scott, Dick’s Sporting Goods, Target,
Rave Cinemas and AMC Theater.
HFF’s debt placement team
was led by managing director Claudia
Steeb, director Jim Curtin and
senior managing director Barry Brown.
“HFF is pleased to have
worked with such tremendous people and firms in putting the debt together for
this complex and unusual transaction,” Steeb said. “This financing was completed in conjunction
with the larger transaction.”
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| Jim Curtin |
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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