HFF secures $2.1M refinancing for Duane Reade Pharmacy in Yonkers, NY

 

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $2.1 million refinancing for a free-standing Duane Reade pharmacy  (top left photo) in Yonkers, New York.

Working exclusively on behalf of The Hampshire Companies, HFF senior managing director Jon Mikula and associate director Michael Klein placed the fixed-rate loan with Intervest National Bank.

The Duane Reade pharmacy is located at 180 McLean Avenue close to the Saw Mill River Parkway and Route 9A in Yonkers, directly north of New York City. Completed in 2004, the property is 100% leased to Duane Reade with 12 years remaining on a 15-year lease.

The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2 billion, targets the development or purchase, and operation of investment-grade neighborhood supermarket-anchored centers, single-tenant retail facilities, warehouse/distribution facilities, office buildings and self storage facilities located in the Mid-Atlantic and Northeast regions of the United States.

The company currently operates a diversified national portfolio of properties totaling more than 20 million square feet with $1 billion of equity under management.

Contacts:

Jon Mikula, HFF Senior Managing Director, (973) 549-2000, mikula@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF arranges $8M refinancing for Pax River Office Park in Lexington Park, MD

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged an $8 million refinancing for Pax River Office Park, a seven-building, 172,235-square-foot office park in Lexington Park, Maryland.

HFF senior managing director Jon Mikula (top right photo) and associate director Michael Klein (middle left photo)  worked exclusively on behalf of The Hampshire Companies to secure the fixed-rate loan through Maryland Bank & Trust Company, NA. Loan proceeds will be used for capital and tenant improvements and leasing commissions.

Pax River Office Park has five low-rise office buildings and two flex buildings that are 97% leased to tenants including Naval Air Systems Command (NAS), Lockheed Martin, EMA, CACI and Serco.

The property is located on Great Mills Road in Lexington Park, one mile from the Patuxent River Naval Air Station (NAS), which is home to three major Navy commands.

“Pax River Office Park’s proximity to the NAS provides it with a distinct competitive advantage as fierce competition for government contracts draws and retains tenants to the office park,” said Mikula.

The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2 billion, targets the development or purchase, and operation of investment-grade neighborhood supermarket-anchored centers, single-tenant retail facilities, warehouse/distribution facilities, office buildings and self storage facilities located in the Mid-Atlantic and Northeast regions of the United States. The company currently operates a diversified national portfolio of properties totaling more than 20 million square feet with $1 billion of equity under management.

Contacts:

Jon Mikula, HFF Senior Managing Director, (973) 549-2000, jmikula@hfflp.com
Kristen Murphy, HFF Associate Director Marketing, (713) 852-3500, krmurphy@hfflp.com

Stop & Shop and BJ’s-anchored Massachusetts retail center receives $10M refinancing arranged by HFF

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $10 million refinancing for Speedway Plaza Shopping Center, (bottom centered photo  a 185,279-square-foot retail center in Westborough, Massachusetts.

HFF managing director Jim Cadranell  (top right photo) worked exclusively on behalf of Regency Centers to secure the five-year, fixed-rate loan through Commerce Bank & Trust of Worcester, Massachusetts. Regency Centers is a publicly-traded, national developer, owner and operator of grocery-anchored and community shopping centers.

Speedway Plaza is located at 290 Turnpike Road (State Route 9) on a 32.10-acre site close to State Route 20 and Interstate 495 in Westborough, approximately 29 miles west of Boston. The fully leased property is anchored by Stop & Shop and BJ’s Wholesale Club.

“We were pleased to utilize our national network of capital relationships on behalf of Regency Centers to identify the ideal local lender that recognized the long-term value and stability of Speedway Plaza,” said Cadranell.

Contacts:

James A. Cadranell, HFF Managing Director, 973) 549-2000, jcadranell@hfflp.com
 Kristen M. Murphy, HFF Associate Director, Marketing, ( (713) 852-3500, krmurphy@hfflp.com

Northern New Jersey trophy office building receives $25M refinancing arranged by HFF

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $25 million refinancing for Glenpointe Centre West, (top right photo)  a 333,650-square-foot, Class A office building in Teaneck, New Jersey.

HFF senior managing director Tom Didio, (middle left photo)  associate director Michael Lachs and associate Angela Jaramillo worked exclusively on behalf of Alfred Sanzari Enterprises to secure the seven-year, fixed-rate loan through CIGNA Investments.

 Loan proceeds were used to refinance the existing first mortgage. The borrower was represented by Thomas Cangialosi of the Hackensack, New Jersey-based law firm, Winne, Banta, Hetherington, Basralian & Kahn.

Glenpointe Centre West is located at 500 Frank W. Burr Boulevard within Teaneck’s Glenpointe Centre mixed-use development, approximately three and one half miles west of Manhattan via Interstate 95 and the George Washington Bridge. The seven-story Class A office property is leased to numerous national and regional tenants including Cognizant, Univision, Inc. and the law firm of Decotiis, Fitzpatrick, Cole & Wisler.

“HFF is pleased to have represented both David Sanzari as the borrower and Cigna Investments as our correspondent lender in structuring this seven-year transaction. Glenpointe Centre West is the premier office property in Bergen County and for that reason it continues to attract quality national and regional tenants,” said Didio.

Alfred Sanzari Enterprises is a New Jersey-based developer with a portfolio of more than five million square feet of commercial and multifamily space including office, industrial, apartments and hotels.

Contacts:
Thomas R. Didio, HFF Senior Managing Director, (973) 549 200, tdidio@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, 713) 852-3500,  krmurphy@hfflp.com

$23.8M acquisition financing for Neptune, NJ retail center arranged by HFF

 FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged $23.8 million in acquisition financing for Neptune Plaza Shopping Center, (top left photo)  a grocery-anchored shopping center in Neptune, New Jersey.

Working exclusively on behalf of The Azarian Group, HFF senior managing director Thomas Didio (bottom right photo) and associate director Michael Klein (bottom left photo)  placed the five-year, fixed-rate loan with a local commercial bank. Loan proceeds were used to acquire the property. The Azarian Group is an experienced retail owner that manages and develops shopping centers throughout New Jersey and New York.

Originally completed in 1970, Neptune Plaza Shopping Center was renovated and expanded in 2002 to its current size of 218,524 square feet. Tenants at the fully occupied center include ShopRite, Marshall’s, HomeGoods, Quizno’s, IHOP, Dunkin’ Donuts and a TD Bank North outparcel. Neptune Plaza Shopping Center is located at 2200 State Route 66 across from the Sea View Square Mall approximately three miles west of the Garden State Parkway in Neptune.


“HFF is pleased to once again assist The Azarian Group in the acquisition of such a dynamic neighborhood shopping center. This is a wonderful property and both the lender and borrower did a great job in committing and closing this business,” said Didio.

Contacts:

Thomas R. Didio, HFF Senior Managing Director, (973) 549-2000, tdidio@hfflp.com
 
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF secures $20M refinancing for River Terrace Gardens Apartments in northeast New Jersey

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured a $20 million refinancing for River Terrace Gardens Apartments, (top left photo) a 379-unit multifamily community in River Edge, New Jersey.



Working exclusively on behalf of River Terrace Gardens Associates, HFF senior managing director Thomas Didio (bottom right photo) and real estate analyst Michael Oliver placed the 10-year, fixed-rate loan with Freddie Mac.



HFF will also service the loan. HFF is a Freddie Mac licensed Program Plus Seller/Servicer. The Borrower was represented by Richard Kahn and Thomas Cangialosi of Hackensack, New Jersey-based law firm, Winne, Banta, Hetherington, Basralian & Kahn.


River Terrace Gardens Apartments is located at 144 Bogert Road off of State Route 4 close to the George Washington Bridge in the northeast New Jersey town of River Edge. The 97% leased property has one-, two- and three-bedroom units averaging 844 square feet each. Community amenities include laundry rooms and covered parking.

“River Terrace Gardens has historically maintained an occupancy rate in the high 90’s in part due to its physical quality and location just off State Route 4, with an abundance of commercial and retail amenities,” said Didio.

Contacts:
Thomas R. Didio, HFF Senior Managing Director, (973) 549-2000, tdidio@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF arranges $9.1M construction loan for West Orange, NJ medical office condominium building

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $9.1 million construction loan for 375 Mt. Pleasant Avenue, (top right rendering) a medical office condominium building currently under construction in West Orange, New Jersey.

HFF senior managing director Jon Mikula (middle right photo) and associate director Michael Klein (bottom left photo) worked exclusively on behalf of The Hampshire Companies to secure the 24-month, adjustable-rate loan through Valley National Bank.

The loan has two, one-year extension options. Since 2001, HFF has arranged more than $375 million in financing for The Hampshire Companies.

The property, which is situated on an 11-acre parcel, was the former Organon headquarters campus.

Due for completion by year end 2009, 375 Mt. Pleasant Avenue will have 106,000 square feet of medical office condominium space. The property’s first tenant, New Jersey Cardiology Associates, has taken occupancy in a 22,524-square-foot space in the first phase of the building.

The property is close to Interstate 280 approximately 14 miles west of Manhattan in West Orange.

“Upon completion, the property will feature modern design and amenities such as garage parking for doctors and senior staff; an added convenience for both patients and employees,” said Mikula. “In addition, the building is zoned ‘hospital’, which makes the subject a fit for all medical uses.”

The Hampshire Companies, a full-service, private real estate investment manager with equity in assets valued at over $2 billion, targets the development or purchase, and operation of investment-grade neighborhood supermarket-anchored centers, single-tenant retail facilities, warehouse/distribution facilities, office buildings, and self storage facilities located in the Mid-Atlantic and Northeast regions of the United States.

The company currently operates a diversified national portfolio of properties totaling more than 20 million square feet with $1 billion of equity under management.

Contacts:

Jon Mikula, HFF Senior Managing Director, (973) 549-2000, jmikula@hfflp.com

Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF secures financing on behalf of Tower Management Company for northeastern New Jersey multifamily complex

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced has arranged a $4.9 million refinancing on behalf of Tower Management Company for Tower Spring Gardens II, (top left photo) a multifamily complex in New Providence, New Jersey.

Working exclusively on behalf of the borrower, HFF senior managing director Tom Didio (middle right photo) placed the five-year, fixed-rate loan with a regional bank. Loan proceeds were used to take out an existing construction loan.

Tower Management Company focuses on acquiring underperforming multifamily properties in well-established markets in which it has utilized its expertise in property management and operations to increase cash flows and value.

Tower currently owns and operates more than 2,000 multifamily units in 21 garden communities in New Jersey, New York and Pennsylvania.

Completed in 2008, Tower Spring Gardens II features 27 one-, two- and three-bedroom units averaging 1,300 square feet each.

The fully-leased property is situated on a 2.5-acre site at 851 Springfield Avenue across from the New Jersey Transit’s New Providence train station in the northeastern New Jersey town of New Providence.

The borrower also owns the adjacent property, Tower Spring Gardens I.

Contacts:
Thomas R. Didio, HFF Senior Managing Director, (973) 549-2000, tdidio@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF secures $17M financing for Philadelphia, PA retail center

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) has secured $17 million in financing for Columbus Crossing, (top left photo) a 142,166-square-foot, grocery-anchored shopping center in Philadelphia, Pennsylvania.

Working exclusively on behalf of Cedar Shopping Centers, Inc., HFF managing director Jim Cadranell (middle right photo) and director John Taylor arranged the five-year, 6.75 percent fixed-rate loan with Susquehanna Bank.

Cedar Shopping Centers, Inc. is a publicly-traded, self-managed real estate investment trust focused on the development and ownership of grocery-anchored and convenience shopping centers primarily in the northeast United States.

Columbus Crossing is located at 1851 South Christopher Columbus Boulevard close to Interstate 95 and Penn’s Landing along the Delaware River waterfront.

The 11.33-acre site is shadow-anchored by Home Depot and Walmart. Currently 97 percent leased, the property’s tenants include SuperFresh, Old Navy, A.C. Moore, Famous Footwear, Bath & Body Works and Lane Bryant.

“This is a good example of the availability of capital to quality real estate and borrowers,” said Cadranell.

Susquehanna Bank provides retail and commercial banking services, with more than 235 branches in the Mid-Atlantic region. It is a subsidiary of Susquehanna Bancshares, Inc. (Nasdaq: SUSQ), a financial services holding company with assets of approximately $14 billion. http://www.susquehanna.net/.

CONTACTS:

James A. Cadranell, HFF Managing Director, (973) 549-2000, jcadranell@hfflp.com

John N. Taylor, HFF Director, (973) 549-2000, jtaylor@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF arranges $9M refinancing for south central Pennsylvania multifamily community

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) has secured refinancing totaling $9 million for Plaza I and Plaza II Apartments, (top right photo) a 256-unit multifamily community in Lebanon, Pennsylvania.

HFF senior managing director Jim Cadranell (bottom left photo) worked exclusively on behalf of Altman Companies to secure two, 10-year, 6.25% fixed-rate loans.


Wachovia Multifamily Capital Inc. and Fannie Mae provided a $4.6 million loan for Plaza I and a $4.4 million loan for Plaza II Apartments.


Located on 24 acres at 1813 Summit Street (Route 72), Plaza I and II Apartments is adjacent to the Lebanon Place Mall and close to the Pennsylvania Turnpike in Lebanon, a south central Pennsylvania suburb.


The 98% leased property has 12, three-story buildings with one-, two- and three-bedroom units averaging 780 square feet each. Community amenities include a swimming pool, two tennis courts, a half-court basketball court and tot lots.


Altman Companies, located in Fort Washington, Pennsylvania just outside of Philadelphia, is a full-service real estate firm that owns and operates several thousand multifamily units throughout eastern Pennsylvania, and manages more than 14,000 units in Pennsylvania, New Jersey and Delaware.
Contacts:



James A. Cadranell, HFF Managing Director, (973) 549-2000, jcadranell@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF arranges $64.78M in debt and equity for Eisenhower Corporate Campus in northern New Jersey

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged $64.78 million in debt and joint venture equity for Eisenhower Corporate Campus, (top right photo) a 384,828-square-foot, Class A office building in Livingston, New Jersey.

HFF senior managing director Jon Mikula (top left photo) and managing director Jim Cadranell (middle right photo) worked exclusively on behalf of Eastman Companies and The Sagner Companies to secure a $44.7 million, adjustable-rate loan through Wells Fargo Bank and TD BankNorth.

Fidelity Real Estate Group provided $20.08 million in joint venture equity. Proceeds are being used for the redevelopment of the office building.

Eisenhower Corporate Campus has four interconnected buildings surrounding a four-story atrium lobby. Building amenities at the complex include a full-service cafeteria with seating, a 200-person stadium-style seating auditorium, a fitness center and executive conference center.

Situated on a 33.6-acre campus, the property is located at the intersection of Route 10 and Eisenhower Parkway close to Interstates 280 and 287 approximately 20 miles west of New York City in Livingston, New Jersey.

“Eisenhower Corporate Campus has been a single tenant facility since its completion in 1984. This financing will enable Eastman Management to transform the building into a premier multi-tenant property,” said Mikula.

Eastman Companies celebrated its thirtieth anniversary last year and is a full-service real estate firm with in-house leasing, management and construction capabilities. Eastman is a recognized leader in high quality real-estate developments with property throughout northern New Jersey.

The Sagner Companies are investors and owners of office, medical, retail and healthcare real estate assets.

Fidelity Real Estate Group pursues value-added real estate investment opportunities throughout the U.S. on a fully discretionary basis for its managed funds.

The Real Estate Group is a division of Pyramis Global Advisors, a Fidelity Investments Company. Fidelity Real Estate Group manages approximately $1.2 billion on behalf of institutional and individual clients.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, loan sales and commercial loan servicing. http://www.hfflp.com/.

Contacts:

Jon Mikula, HFF Senior Managing Director, (973) 549-2000, jmikula@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF secures $43M in financing for grocery-anchored retail centers in Virginia and Florida

FLORHAM PARK, NJ, Feb. 18, 2009 – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured $43 million in financing for Hollymead Town Center (top right photo) in Charlottesville, Virginia; Signal Hill Shopping Center (middle left photo) in Manassas, Virginia; and John’s Creek Center (bottom right photo) in Jacksonville, Florida.

Working exclusively on behalf of Columbia Regency Partners II, a joint venture between Regency Centers and the Oregon Public Employees Retirement Fund, HFF managing director Jim Cadranell (bottom left photo) placed the seven-year, fixed-rate loan with New York State Teachers Retirement System.

Loan proceeds were used to pay off short-term acquisition financing placed on the properties in September 2008.

Regency Centers is a publicly-traded national developer, owner and operator of grocery-anchored and community shopping centers.

Individual property details are listed below by

property size, year built, occupancy and key tenants:

Hollymead Town Center , 296,239 SF, 2005, 98%, Harris Teeter, Starbucks, Seminole Trail & Town Center Dr., Charlottseville, VA.

Signal Hill Shopping Center, 95,170 SF, 2005, 96%, Shoppers Food Warehouse
9534 Liberia Avenue Panera Bread, Manassas, VA.

John’s Creek Center, 89,921 SF, 2004, 95%, Publix, 2940 State Route 10, Jacksonville, FL

“The successful completion of this financing in a challenging capital market is a testimony to the capabilities and professionalism of both Regency Centers and NYSTRS. It was HFF’s privilege to facilitate this transaction,” said Cadranell.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, loan sales and commercial loan servicing. http://www.hfflp.com/.

Contacts:

JAMES A. CADRANELL, HFF Managing Director, (973) 549-2000, jcadranell@hfflp.com

KRISTEN M. MURPHY, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com