$10.7 million refinancing arranged by HFF for grocery-anchored retail center in suburban Philadelphia
PHILADELPHIA, PA – March 7, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a $10.7 million refinancing for Lionville Shopping Center, a 93,161-square-foot, grocery-anchored shopping center in the Philadelphia suburb of Exton, Pennsylvania.
HFF worked on behalf of the borrower, Brandolini Companies, to secure the long-term, fixed-rate financing through an institutional lender in order to retire existing indebtedness.
The 97-percent-leased Lionville Shopping Center is home to 15 tenants, including Giant Food Store, Carol’s Hallmark, Verizon Wireless, Subway, Wells Fargo Bank, Pet Valu and Sal’s Pizza & Italian Restaurant. The center is shadow-anchored by Target, Rite Aid and Wawa. Located at 168 Eagleview Boulevard, Lionville Shopping Center is at the signalized intersection of Eagleview Boulevard and West Uwchlan Avenue (Philadelphia Route 113) in the Chester County submarket. The center is on the “going home” side of West Uwchlan, an almost 50-mile northeast-southwest highway that serves Chester, Montgomery and Bucks Counties.
The HFF team representing the borrower was led by managing director Ryan Ade.
“Brandolini Companies engaged HFF on an exclusive basis in order to find the best available rate and terms for a maturing loan on Lionville Shopping Center,” Ade said. “Lender interest in this financing of a well-located and market-leading grocery store was very high.”
About Brandolini Companies
Founded in 1936, Brandolini Companies is headquartered in Berwyn, Pennsylvania, a suburb of Philadelphia. The company is a diversified real estate organization that develops, owns and operates approximately 2.8 million square feet of real estate. Brandolini has successfully grown by identifying unique opportunities, enhancing value and forging successful relationships with their tenants and partners. Learn more at www.brandolinicompanies.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.