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HFF arranges $12.8 million refinancing for grocery-anchored retail center in Orlando

07/19/2017

ORLANDO, FL – July 19, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a $12.8 million refinancing for Adanson Marketplace, a 156,377-square-foot retail center anchored by Walmart Neighborhood Market in Orlando, Florida. 

HFF worked on behalf of the sponsor, Cutwater Capital LLC, to place the floating-rate loan with Iberia Bank.  Loan proceeds will be used to pay off an existing loan and provide capital for future leasing.

Anchored by a new Walmart Neighborhood Market and Fuel Center completed in November 2016, Adanson Marketplace is home to a variety of national and regional tenants, including Dollar Tree, Sam Ash Music Store, Metro PCS, McDonald’s and La Spada’s Subs.  The center recently underwent significant renovations, including updating the façade, storefronts, sidewalks, landscaping and parking areas.  Situated on 14.7 acres at 902-1028 Lee Road, the center is located in an infill location along Adanson Street and Lee Road, which serves as a major east-west commercial corridor through Central Florida and exposes the center to approximately 45,000 vehicles per day.  Additionally, Adanson Marketplace is one-third of a mile from Interstate 4, Central Florida’s busiest highway.

The HFF debt placement team was led by senior managing directors Michael Weinberg and Brad Peterson.

“Despite all the headlines about the downfall of retail, there is still plenty of debt capital out there for grocery-anchored and necessity-based shopping centers like this one,” Weinberg said.

HFF recently secured financing for another Orlando grocery-anchored center, Main Street Square, in a previously announced transaction. 

About Cutwater Capital LLC
Cutwater Capital LLC is an investment management firm based in the New York City MSA that invests in commercial real estate, and other value added or opportunistic investment opportunities.  Cutwater Capital’s Managing Principal, Jonathan Cappo, has over 25 years of experience acquiring, developing, leasing and disposing of retail shopping centers and other commercial property types located throughout the United States. 

About HFF
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.

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