Holliday Fenoglio Fowler, L.P. has arranged $308.4 million in financing for three shopping malls totaling 2.3 million square feet in Connecticut, Illinois and Washington.
HFF worked on behalf of a newly-formed joint venture partnership between Centennial Real Estate Company, Montgomery Street Partners/Blum Capital, USAA Real Estate Company 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 Corporation and CIT Bank, NA.
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.
The five properties are all considered super regional malls located in or near large U.S. cities, and the malls have an average population of 618,474 residents living within a five-mile radius. The 96.9 percent-leased portfolio has diverse anchor tenants including JCPenney, Nordstrom, Macy’s, Sears, Carson Pirie Scott, Dick’s Sporting Goods, Target, Rave Cinemas and AMC Theater.
HFF’s debt placement team was led by managing director Claudia Steeb, director Jim Curtin and senior managing director Barry Brown.