$14 million refinancing arranged by HFF for lifestyle retail center in central New Jersey
FLORHAM PARK, NJ – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a $14 million refinancing for The Streets of Chester Shopping Center, a 104,682-square-foot lifestyle retail center in Chester Township, New Jersey.
HFF worked on behalf of the borrower, CPP Streets of Chester, to place the 10-year, fixed-rate loan with Natixis Real Estate Capital, Inc. Loan proceeds will be used to retire existing debt previously arranged by HFF.
Completed in 2006, the center is home to many national and regional stores including J.Crew, White House/Black Market, Chicos, Talbots, Ann Taylor, J.Jill, Jos. A. Bank, Charming Charlie, Olympia Sports, Country Casuals and Plow and Hearth. Located at 270 Route 206 in Chester, The Streets of Chester Shopping Center is situated on a main thoroughfare through western Morris County, one of the top 15 most affluent counties in the U.S. and the second wealthiest county in New Jersey.
The HFF team representing the borrower was led by senior managing director Jon Mikula.
“We were pleased to be a part of the team that helped solve the borrower’s debt needs for this asset,” Mikula said. “Natixis was extremely flexible and helped craft a structure that will permit ownership to continue to execute their business plan.”
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.