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| The Pavillions at Talking Stick Shopping Center, Scottsdale, AZ |
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| John Pelusi |
NEWPORT BEACH, CA ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a
recapitalization for The Pavilions at
Talking Stick, a 1.1 million-square-foot retail power center in Scottsdale,
Arizona.
HFF worked on behalf of
the sponsor, De Rito Partners, to arrange the joint venture equity partnership
with PCCP. Additionally, HFF worked on
behalf of the new partnership to arrange a loan with Wells Fargo Bank.
In addition to acquiring the property, loan
proceeds were used to fund capital expenditures and cover site preparation for
ground lease opportunities in outparcel pad locations.
With more than 65 retail
stores, restaurants and services, The Pavilions at Talking Stick is home to
Target, Home Depot, Burlington Coat Factory, Conn’s Appliances, Hobby Lobby,
Toys R Us, Petco, Ross Dress for Less, Michael’s and Mountainside Fitness.
The 91.3-percent-occupied
center consists of 47 buildings renovated in 2008 that are also leased to
Famous Footwear, Frontgate, Lamps Plus, Roadhouse Cinemas, Denny’s and Ulta
Beauty. Situated on 142 acres at
9001-9175 East Indian Bend Road,
The Pavilions at Talking
Stick is located off Loop 101 at a full-diamond interchange on Indiana Bend
Road in the northern Scottsdale area of Talking Stick, an emerging cultural and
entertainment destination that includes the Talking Stick Resort and Casino,
which is adjacent to the center; 36-hole championship Talking Stick Golf Club;
and Salt River Fields at Talking Stick, a MLB spring training facility for the
Arizona Diamondbacks and Colorado Rockies.
The HFF team was led by
executive managing director John Pelusi,
senior managing director Kevin MacKenzie
and managing director James Fowler.
For a
complete copy of the company’s news release, please contact:
Kristen M. Murphy
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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