HFF Secures $308.4 Million in Financing for Three Shopping Malls Totaling 2.3 Million SF

Pittsburgh — Pittsburgh-based HFF has arranged $308.4 million in financing for three shopping malls totaling 2.3 million square feet in Connecticut, Illinois and Washington.

Claudia Steeb, Jim Curtin and Barry Brown of HFF worked on behalf of a newly formed joint venture partnership between Centennial Real Estate Co. (Centennial), Montgomery Street Partners/Blum Capital (MSP), USAA Real Estate Co. (USAA RealCo), and Westfield America to place three separate five-year loans totaling $308.4 million with a lender group led by J.P. Morgan, Chase Bank N.A. and participant lenders Aareal Capital Corp. and CIT Bank N.A.

The three shopping centers involved in the financing are Connecticut Post Mall in Milford, Connecticut; Hawthorn Mall in Vernon Hills, Illinois; and Vancouver Mall in Vancouver, Washington. HFF also assisted Centennial, MSP and USAA RealCo in connection with transfers under the existing debt financing on two additional malls owned by the joint venture: Fox Valley Mall in Aurora, Illinois, and MainPlace Mall in Santa Ana, California.

The 96.9 percent-leased portfolio features diverse anchor tenants including JC Penney, Nordstrom, Macy’s, Sears, Carson Pirie Scott, Dick’s Sporting Goods, Target, Rave Cinemas and AMC Theater. 

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