$247.5 million refinancing secured by HFF for 20-property retail portfolio in Houston, Dallas and San Antonio, Texas
NEW YORK, NY – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a $247.5 million refinancing for a retail portfolio totaling 20 properties and 2.1 million square feet in Houston, Dallas and San Antonio, Texas.
HFF worked on behalf of the borrower, Global Fund Investments, LLC (GFI), to place the long term, fixed-rate loan with TIAA-CREF. Loan proceeds were used to refinance existing debt and recapitalize the properties.
The 95-percent-leased portfolio consists of 20 properties with approximately 414 tenants, including H.E.B, Kroger, Kohl’s, LA Fitness, Petco, Golfsmith, 24-Hour Fitness, Starbucks and T.J. Maxx. Twelve of the retail centers are in Houston or Houston-area suburbs, including Katy, Missouri City, Spring and Sugar Land. The Dallas-Fort Worth area houses seven of the portfolio properties in Arlington (two centers), DeSoto, Hurst, Plano, Richardson and Southlake. One of the retail centers is located in San Antonio.
HFF’s debt placement team was led by senior managing director Mike Tepedino, managing director Michael Gigliotti and director Cameron Cureton.
“TIAA-CREF provided a comprehensive financing solution to facilitate the recapitalization of a complicated 20-property portfolio,” Gigliotti said. “GFI brings an impressive depth of experience and high level of institutional quality to the table, which attracted the lender to the transaction.”
About Global Fund Investments, LLC
Global Fund Investments, LLC (GFI) is a real estate investment company headquartered in South Florida. GFI acquires, develops, redevelops, manages, leases and finances retail shopping centers across the Southeastern United States, with a core focus on Florida, Texas and Georgia. To learn more about GFI, please visit the company’s website at www.gfinvestments.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.