HFF closes sale of and arranges financing for 6-property retail portfolio in Georgia, Alabama and South Carolina
ATLANTA, GA – May 18, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and secured acquisition financing for a six-property, grocery-anchored retail portfolio totaling 535,252 square feet in Georgia, Alabama and South Carolina.
HFF marketed the properties on behalf of the seller, InvenTrust Properties Corp. Preferred Apartment Communities, Inc. (NYSE: APTS), through its retail subsidiary New Market Properties, LLC, purchased the assets. Working on behalf of the new owner, HFF also placed four separate fixed-rate acquisition loans. Two properties were purchased in all-cash transactions.
The 96-percent-occupied portfolio comprises Anderson Central and Fairview Market in Greenville-Spartanburg, South Carolina; Rosewood Shopping Center in Columbia, South Carolina; East Gate Shopping Center and Fury’s Ferry in Augusta, Georgia; and Southgate Village in Birmingham, Alabama. Five of the properties are anchored by Publix and one property is anchored by Walmart Supercenter.
The HFF investment sales team representing the seller was led by senior managing directors Jim Hamilton and Richard Reid.
The HFF debt placement team representing the borrower was led by senior managing director Ed Coco.
“The portfolio allowed the buyer to acquire a critical mass of six well-positioned, high-volume, grocery-anchored centers with an established tenancy located throughout the southeast,” Hamilton said.
About InvenTrust Properties Corp.
InvenTrust Properties became a self-managed real estate investment trust (REIT) in 2014; it owns 128 multi-tenant retail properties (including 18 joint venture assets), comprising 19 million square feet of retail space in 24 states. In addition, its student housing business, University House Communities, has 16 properties (including one joint venture asset) with 9,600 beds.
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.