From MBA News Link
Dealmaker of the Day
Tucker, Michael–Jan. 17, 2014
HFF, Houston, arranged $42 million for Gart Properties, Denver, to refinance a four-property Colorado retail portfolio.
HFF secured a 10-year, 4.5 percent fixed-rate loan with a correspondent life company lender. Gart Properties refinanced maturing debt by renovating and repositioning the 436,000-square-foot portfolio.
The properties include Pavilion Shopping Center in Fort Collins, Indian Tree Shopping Center in Arvada, Micro Center Shopping Center in Denver and Saddle Rock Village in Aurora. The 94-percent occupied portfolio included anchor tenants Michael’s, T.J. Maxx, Micro Center and PetSmart.
HFF Senior Managing Director Eric Tupler, Director Josh Simon and Analyst Kristian Lichtenfels led HFF’s team representing Gart Properties.
HFF also arranged a $55 million refinancing for Mountain Bay Plaza at 444 Castro, a 12-story, 165,000-square-foot, Class A office tower in downtown Mountain View, Calif. Working on behalf of borrower The Swig Co., HFF Senior Managing Director Bruce Ganong and Associate Walter Chui placed the fixed-rate loan with John Hancock Real Estate, Boston.
Built in 1970 and renovated in 2001, Mountain Bay Plaza at 444 Castro is the only high-rise in downtown Mountain View. The 97-percent leased property’s tenant roster includes Red Hat software, PricewaterhouseCoopers and Bank of America.