HFF secures $308.4m funding for retail joint venture in US

22 December 2015 (Last Updated December 22nd, 2015 18:30)

Holliday Fenoglio Fowler (HFF) has secured $308.4m in financing to fund the development of three shopping malls in the US.

Holliday Fenoglio Fowler (HFF) has secured $308.4m in financing to fund the development of three shopping malls in the US.

The facilities which received the developmental funding include Connecticut Post Mall in Milford, Connecticut; Hawthorn Mall in Vernon Hills in Illinois and Vancouver Mall in Washington.

HFF worked on behalf of a newly-formed joint venture (JV) partnership between Centennial Real Estate Company (Centennial), Montgomery Street Partners/Blum Capital (MSP), USAA Real Estate Company (USAA RealCo) and Westfield America to place three separate five-year loans totaling $308.4m with a lender group.

J.P. Morgan Chase Bank led the lender group, which included Aareal Capital and CIT Bank.

HFF also helped out Centennial, MSP and USAA RealCo to transfer their existing debt financing on two other malls which include Fox Valley Mall in Aurora, Illinois, and MainPlace Mall in Santa Ana, California.

The 96.9%-leased portfolio has a range of anchor tenants such as 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.