HFF closes sale leaseback and financing of multi-state Haggen-branded grocery portfolio
DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale leaseback of two separate portfolios totaling 39 Haggen Food & Pharmacy grocery stores spanning Washington, Oregon and California. Additionally, HFF arranged financing for 19 of the stores.
HFF marketed the properties on behalf of Haggen Inc. (Haggen) and arranged the floating-rate financing for the 19 properties. Haggen entered into long-term leases with the purchasers.
Haggen purchased 146 stores from Albertson’s as part of a $9.4 billion merger between Safeway Inc. and AB Acquisition LLC, the owner of Albertson’s LLC. This expansion grows the Haggen Food & Pharmacy portfolio from 18 stores in Washington and Oregon to 164 stores in five western states.
The HFF investment sales team representing the seller was led by senior managing directors Mark West, Timothy Hall and Bryan Ley, managing directors Brandon Chavoya and Coler Yoakam and real estate analysts Michael George and Campbell Black.
About Haggen Inc.
Founded in 1933, Haggen Inc. has long been one of the Pacific Northwest's leading grocery chains. The Bellingham, Washington-based company has historically operated stores in Washington and Oregon under the Haggen Northwest Fresh banner, but will now be operating stores in California, Arizona and Nevada as well. Haggen is dedicated to providing its guests with the best fresh, local, organic and gluten free products. For more than 80 years, it has supported regional farms, ranches, fisheries and other businesses, creating a lasting and sustainable local food economy. Haggen is also deeply rooted in the communities it serves, providing support to local events and partnerships. For more information about what’s happening at Haggen, visit haggen.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.
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740.