HFF arranges $28.7 million acquisition financing for a Macy’s in west Los Angeles
NEWPORT BEACH, CA – May 8, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $28.7 million in financing for the acquisition of a six-acre parcel that includes a 244,000-square-foot retail structure that is occupied by Macy’s and a 1,550 space parking garage at the Westside Pavilion Mall in west Los Angeles, California.
HFF worked on behalf of the borrower, GPI Companies, to secure the two-year, fixed-rate loan through a life insurance company.
The property is part of the Westside Pavilion Mall, and is anchored by a 244,000-square-foot Macy’s. Located at the intersection of Pico Boulevard and Overland Avenue, the property is situated in prestigious west Los Angeles, close to the 405 and 10 Freeways.
The HFF debt placement team representing the borrower was led by senior managing director Kevin MacKenzie, director Greg Brown, director Jeff Sause and associate Jamie Kline.
About GPI Companies
GPI Companies is a full-service commercial real estate investment and operating platform which specializes in the acquisition, development, repositioning, and management of office, retail, multifamily, and mixed-use properties located in greater Los Angeles and the Western United States. The Partners of GPI bring more than 100 years of combined experience, delivering over 20 million square feet of award-winning urban projects with a capitalized value in excess of $6 billion.
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.