HFF Arranges $61 Million Refinancing for Four-Property Retail Portfolio

by Katie Sloan

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. 

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