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| Village Square Retail Center, Bethel Park area, Pittsburgh, PA |
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| Claudia Steeb |
PITTSBURGH, PA, Oct. 19,
2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has
arranged a $39.5 million refinancing for Village
Square, a 392,497-square-foot, fully-leased retail power center in the
Bethel Park area of Pittsburgh, Pennsylvania.
HFF worked on behalf of
the borrower, Oxford Development Company, to place the 10-year, fixed-rate loan
with Goldman Sachs & Co. HFF will
service the securitized loan, proceeds of which were used to primarily pay off
a maturing loan.
Village Square was built
in 1982 and renovated in both 1997 and 2003.
Anchored by Home Depot, Kohl’s, Burlington Coat Factory, Michael’s,
Office Depot and Toys"R"Us, the two-story center is also home to a variety
of national and regional tenants, including Half-Price Books, Sten’s Stride
Rite Shoes, Famous Footwear and Avenues.
Additionally, the center’s
outparcel pads are leased to Olive Garden, TGI Friday’s, Pennzoil and PA Wine
& Spirits. Situated in Bethel Park
on 31.4 acres at 4000 Oxford Drive, Village
Square’s locale at the intersection of Fort Couch Road and U.S. Route 19 places
it in the heart of Pittsburgh’s South Hills, one of the most densely populated
and affluent areas in Pittsburgh. The
center is approximately 10 miles from downtown Pittsburgh.
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| John Pelusi |
HFF’s debt placement team was led by managing director Claudia Steeb and executive managing director John Pelusi.
“HFF appreciates the
opportunity to place this loan on behalf of Oxford Development with Goldman
Sachs,” Steeb said.
Oxford has been active in
the South Hills area since 1962 when they broke ground with their inaugural
project, South Hills Village Mall, and most recently with the renovation of the
Crowne Plaza Hotel & Suites Pittsburgh South.
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Director, Marketing
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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