$13.437 million acquisition financing for Hilton Head grocery-anchored retail center secured by HFF
CHARLOTTE, NC – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $13.437 in acquisition financing for Fresh Market Shoppes, an 86,694-square-foot retail center anchored by The Fresh Market in Hilton Head, South Carolina.
HFF worked on behalf of the borrower, Ferncroft Capital, to secure the loan through Synovus Bank.
Redeveloped in 2004, Fresh Market Shoppes is 91.2 percent leased and home to 16 tenants, including The Fresh Market, Bonefish Grill, Dollar Tree, Massage Envy and West Marine. Situated on 9.73 acres at 890 William Hilton Parkway, the center is located on Hilton Head Island, an affluent resort community with more than 37,000 year-round residents. The center’s location along Hilton Head’s main street has a traffic count of more than 33,900 vehicles per day, and the site is bound by two golf clubs, Long Cove Golf Club to the northwest and the Shipyard Plantation Golf Course to the southeast. Additionally, Fresh Market Shoppes is positioned near multiple upscale residential neighborhoods.
The HFF debt placement team representing the borrower was led by senior managing director Travis Anderson and associate director Cory Fowler.
“This was a great opportunity to work with a quality sponsor on a well located asset with a strong grocery anchor in Fresh Market, that we believe will continue to perform at a high level,” Anderson said.
About Ferncroft Capital
Ferncroft Capital is a private real estate investment firm headquartered in Charlotte, North Carolina. The firm’s investment team has experience in acquiring, sourcing and managing commercial real estate assets throughout the Southeast, with a primary focus on the Carolinas. Ferncroft seeks attractive, risk-adjusted returns in retail, office, and industrial assets with current income and long-term capital appreciation in the Southeast. Visit www.ferncroftcapital.com for more information.
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.