HFF arranges $62 million financing for 7-property retail portfolio in the Carolinas, Georgia and Mississipp
NEWPORT BEACH, CA – September 20, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $62 million in first lien financing for a portfolio of seven retail centers totaling 805,803 square feet in North and South Carolina, Georgia and Mississippi.
HFF worked on behalf of the borrower-sponsor, Cole Credit Property Trust IV, Inc. (CCPT IV), to place the seven-year, fixed-rate loan with Voya Investment Management. HFF will service the loan.
Of the seven properties in the portfolio, three are in South Carolina near Charleston and Greenville-Spartanburg: Walmart Neighborhood Market at 10635 Dorchester Road in Summerville (Charleston), Poplar Springs Plaza at 2153 East Main Street in Duncan (Greenville-Spartanburg) and Tire Kingdom & Starbucks at 1820 North Highway 17 in Mount Pleasant (Charleston MSA). The portfolio also includes two Georgia properties, Albany Square at 2707 Dawson Road in Albany and East-West Commons at 1757 East-West Connector in Austell (Atlanta); Morganton Heights at 400 Henredon Road in Morganton, North Carolina, and The Ridge at Turtle Creek in Hattiesburg, Mississippi. All properties in the portfolio are anchored by national retailers, including Walmart Neighborhood Market, Publix, Academy Sports, Belt, Dick’s, T.J. Maxx, Ross Dress for Less, Hobby Lobby and Bealls.
The HFF debt placement team representing the borrower consisted of senior managing director Kevin Mackenzie, director Greg Brown and associate director Cory Fowler.
“Using our marketing process and the strength of the sponsorship coupled with the cross collateralization of the portfolio, we were able to provide the client with multiple balance sheet lender options and, ultimately, were able to close with an excellent lender in Voya within the client’s desired timeframe,” Brown said.
About VEREIT and CCPT IV
VEREIT is a leading, full-service real estate operating company with investment management capability. VEREIT owns and actively manages a diversified portfolio of retail, restaurant, office and industrial real estate assets with a total asset book value of $17.4 billion including 4,291 properties totaling approximately 98.2 million square feet, located in 49 states, as well as the District of Columbia, Puerto Rico and Canada. Additionally, VEREIT manages $7 billion of gross real estate investments on behalf of the Cole Capital® non-listed REITs. VEREIT is a publicly traded Maryland corporation listed on the New York Stock Exchange. Additional information about VEREIT can be found on its website at www.VEREIT.com. VEREIT may disseminate important information regarding it and its operations, including financial information, through social media platforms such as Twitter, Facebook and LinkedIn.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 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.