Charlotte, N.C. — HFF has arranged financing for the acquisition and renovation of Seneca Place, a 41,310-square-foot retail strip center and outparcel pad in Charlotte.
Cory Fowler of HFF arranged the floating-rate loan through Ready Capital Structured Finance on behalf of the borrower, New Forum. Other terms of the deal were not disclosed, but the Charlotte Business Journal reports the company acquired the asset for $5 million. Seneca Place includes a 34,710-square-foot retail strip center and a 6,600-square-foot outparcel pad. New Forum plans to renovate the property, repositioning it with experiential retailers.