Pittsburgh – The portfolio includes two enclosed malls, a grocery-anchored retail center and a power center.
Pittsburgh – HFF has secured $165 million in financing for a four-property retail portfolio in Pennsylvania and Ohio totaling more than 1.9 million square feet. Working on behalf of the borrower, J.J. Gumberg Co., HFF secured a fixed-rate loan on three of the properties through CorAmerica Capital and JP Morgan Chase Bank, and a floating-rate loan on the fourth property through CorAmerica Capital. The portfolio includes two enclosed malls, a grocery-anchored retail center and a power center. The properties are the 760,000-square-foot Clearview Mall in Butler, Pa.; the 640,000-square-foot Waterworks in Pittsburgh; the 130,000-square-foot North Huntingdon Square in North Huntingdon, Pa.; and the 385,000-square-foot Northtowne Mall in Defiance, Ohio. The properties have occupancy rates of 94 percent, 99 percent, 100 percent and 98 percent, respectively. Gerard Sansosti, executive managing director, and Brandi Wyskocil, senior analyst, led the HFF team.
— Scott Reid