Pittsburgh — HFF has arranged a $61 million refinancing for a four-property portfolio of grocery-anchored shopping centers totaling 542,683 square feet in Illinois, Indiana, North Carolina and South Carolina.
Jim Cadranell of HFF worked on behalf of the borrower, a co-investment partnership between Regency Centers L.P. and Global Retail Investors LLC, to place four separate 10-year, fixed-rate, interest-only loans totaling $61 million with Sentinel Asset Management. Loan proceeds are being used to refinance existing debt.
Properties in the portfolio include Civic Center Plaza in Niles, Illinois; Willow Lake West in Indianapolis; Merchant’s Village in Charleston, South Carolina; and The Shoppes of Kildaire in Cary, North Carolina.
The portfolio is 97.8 percent leased to a total of 73 tenants including Trader Joe’s, Publix, Super H-Mart, Home Depot, Staples, Starbucks Coffee, Panera Bread and Pier 1 Imports.