HFF arranges $50.7 million financing for 6-building retail portfolio in Louisiana markets

Jon Mikula

FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $50.7 million in acquisition financing for a six-building portfolio of newly completed, freestanding retail stores fully occupied by Walmart Neighborhood Market and totaling 257,533 square feet in various markets in southern Louisiana.

HFF worked on behalf of the borrower, The Hampshire Companies, Hana Asset Management from Seoul, South Korea, and several of their institutional and retail investors, to place the five-year, interest-only, fixed-rate loan with Protective Life Insurance Company.

The Walmart Neighborhood Market portfolio comprises two stores near Lafayette, the 43,240-square-foot 2310 South Union Street store in Opelousas and the 41,952-square-foot store at 1201 Parkview Drive store in New Iberia;

Also, three New Orleans area properties, the 42,311-square-foot store at 2500 Archbishop Philip M. Hannan Boulevard in Meraux, the 42,311-square-foot 224 West Main Street store in Thibodaux and the 44,237-square-foot store at 6411 West Park Avenue in Houma; and one property near Baton Rouge, the 43,482-square-foot store at 15047 Airline Drive in Prairieville.

Michael Klein

 All the properties are in prime commercial corridors within their respective submarkets.

The HFF team was led by senior managing director Jon Mikula and managing director Michael Klein.

“In order to hit the required investment returns, the borrower needed a portfolio lender that would be able to lock the rate at application and eliminate any interest rate risk and provide a full-term interest only loan,” Klein said.  “Protective Life was able to hold the rate through closing and was able to adapt to many of the twists and turns typically associated with acquiring a portfolio in various geographic locations.”

 For more information on this company, please contact:

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
ohennessey@hfflp.com

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