HFF Announces 16 Financings Totaling $663M Secured by Class A Retail Properties in New York and New Jersey
November 17 2017 - 4:15PM
Business Wire
Holliday Fenoglio Fowler, L.P. (HFF) announces 16 financings
totaling $663 million secured by 15 Class A retail properties and
one industrial property totaling 4.6 million square feet in New
York and New Jersey.
The HFF team worked on behalf of the borrower, Urban Edge
Properties, to secure the 16 separate loans with two CMBS lenders,
three life company lenders and one bank. The loans include 14
fixed- and two floating-rate facilities with terms ranging from
seven to 13 years. Loan proceeds will be used to pay off existing
CMBS debt and create additional proceeds, while staggering and
lengthening the duration of the borrower’s maturity schedule.
The portfolio comprises 98.1-percent-leased retail centers
anchored by grocery stores, including ShopRite, Stop & Shop and
Aldi; Home Depot; Lowe’s; Costco; BJ’s Wholesale Club and Walmart
in addition to one multi-tenant warehouse property in East Hanover,
New Jersey. The 16 properties are in dense submarkets with affluent
demographics, including15 located in New Jersey and one in New
York.
The HFF debt placement team representing the borrower included
managing director Scott Aiese and senior managing directors Jon
Mikula and Mike Tepedino.
“This retail financing proves that the capital markets remain
highly liquid for assets in dense markets operated by best-in-class
sponsorship,” Aiese said. “As lenders remain focused on
diversifying their portfolios by asset type and geography, HFF
experienced significant interest in the 15 retail term loan
opportunities.”
HFF and Holliday GP Corp. are licensed New Jersey real estate
brokers.
About Urban Edge
Properties
Urban Edge Properties is a NYSE listed real estate investment
trust focused on managing, acquiring, developing, and redeveloping
retail real estate in urban communities, primarily in the New York
metropolitan region. Urban Edge owns 90 properties totaling 16.7
million square feet of gross leasable area.
About HFF
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
advisory, equity placement, funds marketing, M&A and corporate
advisory, loan sales and loan servicing. HFF, HFF Real Estate
Limited, HFF Securities L.P. and HFF Securities Limited are owned
by HFF, Inc. (NYSE: HF). For more information, please visit
hfflp.com or follow HFF on Twitter @HFF.
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version on businesswire.com: http://www.businesswire.com/news/home/20171117005522/en/
HFFSCOTT AIESE, (212) 245-2425NY Lic. #10401232699HFF
Managing Directorsaiese@hfflp.comorJON MIKULA, (973)
549-2000NJ Lic. #9032539HFF Senior Managing
Directorjmikula@hfflp.comorMIKE TEPEDINO, (212) 245-2425NY
Lic. #30TE0809731HFF Senior Managing
Directormtepedino@hfflp.comorKRISTEN MURPHY, (617)
338-0990HFF Director, Public Relationskrmurphy@hfflp.com
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