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| Freshfields Village Shopping Center, Kiawah Island, South Carolina |
WASHINGTON, DC – Holliday
Fenoglio Fowler, L.P. (HFF) announced it has secured a long-term refinancing
for Freshfields Village, a
179,409-square-foot, upscale, grocery-anchored lifestyle retail center that
serves as the downtown for the Charleston-area barrier island of Kiawah Island,
South Carolina.
HFF worked on behalf of
the borrower, Northwood Investors, to secure the fixed-rate loan through
Guggenheim Commercial Real Estate Finance.
HFF will service the loan, which will be used to refinance the
acquisition loan arranged by HFF in 2013 and provide additional capital for
re-tenanting and expansion costs.
Completed in 2005,
Freshfields Village is a mix of shopping, dining, galleries, businesses and
services in an outdoor town center atmosphere.
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| Mark Remington |
Anchored by the
35,000-square-foot The Village Market by Harris Teeter, the 93-percent-leased
center is home to 55 tenants, including Bank of America, Tommy Bahama, Lilly
Pulitzer, King Street Grille, J.McLaughlin, Las Olas, Roberta Roller Rabbit,
Wyndham Vacation Rentals, Vincent’s Drug Store and Soda Fountain, Wells Fargo,
BB&T, Palmetto Island and The Station Deli.
Situated on 17.2 acres at
165 Village Green Lane, Freshfields Village is located at the crossroads of
Kiawah, Seabrook and Johns Island at the end of Betsy Kerrison Parkway.
The center is on the sole access road to both
Kiawah and Seabrook Islands and is the only shopping center serving both
islands; the closest grocery-anchored center is 11 miles away.
The HFF debt placement
team representing the borrower was led by managing director Mark Remington.
“This was a win-win for
borrower and lender by allowing Northwood to recapitalize and take advantage of
the current low rate environment and Guggenheim to invest in a high quality
asset with a repeat client,” Remington said.
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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