HFF closes $8.87 million sale of market-dominant retail center in Florida Panhandle

                      

Crestview Corners Shopping Center, Crestview, FL

Brad Peterson

ORLANDO, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $8.87 million REO sale of Crestview Corners, a 116,983-square-foot, fully leased, market-dominant community retail center in the Florida Panhandle community of Crestview. 

HFF arranged the sale on behalf of the seller, special-servicer LNR Property, a subsidiary of Starwood Property Trust, Inc.  A partnership of SilverCap Partners LLC and Burton Property Group, LLC purchased the asset free and clear of existing debt.

The 100-percent-leased Crestview Corners is home to a variety of national and regional tenants, including Big Lots, Bealls Outlet, Ashley Furniture, Rent-A-Center, Hibbett Sports and Beef O’Brady’s. 

Situated on 13.5 acres at 2493 South Ferdon Boulevard (State Road 85), the center is the only multi-anchor shopping center in a 10-mile trade area, with the nearest comparable retail concentrations located 22 miles south in Destin and 38 miles west in Pensacola. 

Crestview Corners is on the “going home” side of Ferdon Boulevard half a mile off Interstate 10, which have combined traffic counts of 58,600 vehicles per day. 

Whitaker Leonhardt

 The HFF investment sales team was led by senior managing director Brad Peterson and director Whitaker Leonhardt.

“The market fundamentals throughout the Florida Panhandle are incredibly strong, as indicated by the Crestview MSA leading the state of Florida with an incredibly low unemployment rate of 2.6 percent,” Leonhardt said.

 “Combined with high barriers to entry, these markets have some of the lowest retail vacancy rates in the state.  Retail investors are starting to catch on to the strength of these markets, and we are seeing excellent investment opportunities in this region.”

 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

www.silvercappartners.com

www.burtonpropertygroup.com.

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

To stay connected with The Hampshire Companies and for updates on the latest transactions and news, follow the company on Facebook (www.facebook.com/hampshireco), Twitter (@hampshireco), and LinkedIn (www.linkedin.com/company/the-hampshire-companies).
www.HampshireRE.com.
 

HFF arranges refinancing for Downtown Dadeland in Miami, FL

  

Downtown Dadeland, Miami, FL

Chris Drew

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a refinancing for the 126,453-square-foot retail component of Downtown Dadeland, a mixed-use development comprising seven buildings with six floors of residences, ground-floor retail and subterranean parking.

HFF worked on behalf of the borrower, a joint venture between Duncan Hillsley Capital and Pebb Capital, to place the financing with Square Mile Capital Management, LLC.  HFF previously brokered the sale of this property to the borrower in a 2014 transaction.

Downtown Dadeland is located on 7.5 acres in the epicenter of the Dadeland “Triangle”, an urban infill location bounded by three of Miami’s most heavily trafficked thoroughfares and directly across from Dadeland Mall. 

The property is home to the greatest concentration of chef-driven restaurants in the region, including concepts such as Barley American Brasserie (Chef Jorgie Ramos), Ghee Indian Kitchen (Chef Niven Patel), Harry’s Pizzeria (Chef Michael Schwartz) and Pubbelly Sushi (Chef Jose Mendin).

Nat Scarmazzi

In addition, the property offers a prominent mix of experiential retail and lifestyle service providers, including West Elm, HCA Healthcare, Orange Theory Fitness, Panera Bread, Chili’s Bar and Grill and Men’s Warehouse.

The HFF debt placement team was led by senior managing director Chris Drew, senior director Nat Scarmazzi and managing director Luis Castillo.

“Duncan Hillsley has done an incredible job creating a unique retail destination that offers not only experiential retail and lifestyle service providers but also some of the best restaurant options south of Miami’s CBD, including Pubbelly Sushi, Barley American Brasserie, Ghee Indian Kitchen and Harry’s Pizzeria,” Scarmazzi said.  

“The sponsor’s vision for the property and ability to flawlessly execute its plan has created a new epicenter in Dadeland and served as a major catalyst of growth in this submarket.”

HFF’s debt placement professionals have secured $46.158 billion in financing across all property types in the 12 months ending June 30, 2017.

 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

http://pebbcap.com

http://duncanhillsley.com

Westwood Financial Continues Trajectory of Rapid Growth; Appoints Matt Lougee New Executive Vice President to Lead Expansion

Matt Lougee

LOS ANGELES, CA (Aug. 21, 2017) – Westwood Financial, a leading retail investment firm with a portfolio of 118 shopping centers in the U.S., has announced the addition of Matt Lougee as its new Executive Vice President to lead the firm’s ongoing growth and expansion.

“As a forward-looking firm, we are committed to creating a best-in-class leadership team to drive the expansion and management of our industry-leading portfolio,” explains Co-CEO Joe Dykstra. “This new appointment will advance our long-term objective to grow our platform, refine our corporate strategy, and strengthen our capital relationships, thereby positioning us to better serve our clients and investors.”

In this role, Lougee will be responsible for spearheading Westwood’s corporate strategy and finance. He will also facilitate financing for the firm’s retail investments, oversee capital formation and investor relations, and negotiate joint-venture partnerships.

Joe Dykstra

“Matt brings over a decade of real estate finance experience, specifically in value-oriented shopping centers, and will be integral in guiding the growth of our firm,” adds Co-CEO Randy Banchik. 

“This new addition to our executive leadership team, coupled with our recent consolidation of 275 partnerships into a single entity, reflects our commitment to evolve from a traditional real estate sponsor into a sophisticated real estate institution, and will position us to stay competitive in this evolving retail landscape.”

Prior to Westwood, Lougee served as a Senior Vice President of Finance at DDR Corp., a REIT that owns over 300 open-air shopping centers, where he was involved in asset management, transactions, capital formation, corporate finance and accounting, and investor relations.

He graduated from Colgate University and is also a graduate of DDR’s management training program.

For more information on the company, please contact:

Lauren Burgos / Lexi Astfalk

Brower, Miller & Cole

(949) 955-7940

LBurgos@browermillercole.com