HFF secures $165 million financing for 4-property retail portfolio in Pennsylvania and Ohio

GlobeNewswire Europe

PITTSBURGH, PA, April 17, 2014 - HFF announced today that it has secured $165 million in financing for a four-property retail portfolio totaling more than 1.9 million square feet in Pennsylvania and Ohio.

Working on behalf of the borrower, J.J. Gumberg Co., HFF secured a fixed-rate loan on three of the properties through CorAmerica Capital, LLC and JP Morgan Chase Bank, National Association and a floating-rate loan on the fourth property through CorAmerica Capital, LLC. 

The portfolio includes a mixture of two enclosed malls, a grocery-anchored retail center and a power center.  Individual property details are listed below:

Property Name & Location    Size   Year Built Occupancy
Clearview Mall
Butler, Pennsylvania
 760,000 SF 1998  94%
The Waterworks
Pittsburgh, Pennsylvania
 640,000 SF 2005 99%
North Huntingdon Square
North Huntingdon, Pennsylvania
 130,000 SF 1975 100%
Northtowne Mall
Defiance, OH
 385,000 SF 1986 98%
       

The HFF debt placement team was led by executive managing director Gerard Sansosti and senior analyst Brandi Wyskocil.

J.J. Gumberg Co. is a third-generation, global real estate investment and development company.  Headquartered in Pittsburgh, Pennsylvania, Gumberg has been an established industry leader for nearly 90 years, and is one of the largest privately held retail real estate developers in the country with a focus on creating institutional-quality, large-scale retail properties.

HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (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 at twitter.com/hff.  

CONTACTS:
GERARD T. SANSOSTI
HFF Executive Managing Director
(412) 281-8714
gsansosti@hfflp.com

KRISTEN M. MURPHY
HFF Associate Director, Marketing
(617) 338-0990
krmurphy@hfflp.com



 




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: HFF, Inc. via GlobeNewswire

HUG#1778368

Rates

View Comments (0)