Dealmaker: HFF Arranges $77M for Retail, Office Properties

Holliday Fenoglio Fowler, Houston, arranged $77 million for a retail power center and a Class A office building.

HFF arranged $60 million to refinance Windsor Square Shopping Center, a 661,000-square-foot retail center in Charlotte suburb Matthews, N.C. owned by the Sterling Organization, Palm Beach, Fla. Sterling Organization used the loan proceeds to pay off a maturing commercial mortgage-backed securities loan.  

The 1987-vintage Windsor Square Shopping Center underwent a $16 million renovation between 2012 and 2014. Anchor tenants including Sam’s Club, J.C. Penney, PetSmart and Kohl’s occupy 96 percent of net rentable area.

HFF Managing Director Chris Drew, Director Brent Bowman and Associate Director Brian Gaswirth secured the 10-year fixed-rate loan through JPMorgan Chase Bank.

“Sterling Organization has positioned Windsor Square as one of the premier assets in greater Charlotte,” Drew said, noting that nearly 320,000 residents live within a seven-mile radius.

In the St. Petersburg, Fla. area, Drew and Gaswirth arranged $17 million for Carillon Point, a 124,000-square-foot office building in Carillon Point Office Park.

Drew and Gaswirth worked for borrower City Office REIT, Dallas, to secure the seven-year fixed-rate post-close acquisition loan through BankUnited, Miami Lakes, Fla. HFF arranged the property’s sale in June.

Carillon Point is part of Carillon Office Park, which includes more than three million square feet of office space. Located equidistant from Tampa, St. Petersburg and Clearwater, the five-story property is fully leased to tenants including Paychex, Hull & Co. and Peachtree Special Risk.