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| Merchant’s Village Shopping Center, 520 Folly Beach Road, Charleston, SC |
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| Jim Cadranell |
FLORHAM PARK, NJ ––
Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a $61
million refinancing for a four-property portfolio of grocery-anchored shopping
centers totaling 542,683 square feet in Illinois, Indiana, North Carolina and
South Carolina.
HFF worked on behalf of
the borrower, a co-investment partnership between Regency Centers, LP and
Global Retail Investors, LLC (a joint venture between CalPERS and First
Washington Realty, Inc.), to place four separate 10-year, fixed-rate,
interest-only loans totaling $61 million with Sentinel Asset Management. Loan proceeds are being used to refinance
existing debt.
The shopping centers
included in the portfolio are: Civic Center Plaza at 7801 North Waukegan Road
in Niles, Illinois; Willow Lake West at 2902 West 86th Street in Indianapolis,
Indiana; Merchant’s Village at 520 Folly Beach Road in Charleston, South
Carolina; and The Shoppes of Kildaire at 1394 Kildaire Farm Road in Cary, North
Carolina. The portfolio is 97.8 percent
leased to a total of 73 tenants, including Trader Joe’s, Publix, Super H-Mart,
Home Depot, Staples, Starbucks, Panera Bread and Pier 1 Imports.
The HFF debt placement
team representing the borrower was led by senior managing director Jim Cadranell.
“It was a pleasure to work
with the Regency team to find the most competitive financing in the market for
these shopping centers,” Cadranell said.
“Sentinel Asset Management is a new capital source for Regency, so both
lender and borrower are pleased with the outcome.”
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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