Dealmaker: HFF Closes $161M in Retail, Industrial Refinancings

Holliday Fenoglio Fowler, Houston, secured $161.3 million to refinance retail and industrial assets in Texas and Maryland.

In Tyler, Texas, HFF Senior Director Jim Curtin worked with Q10 Triad Capital Advisors Principal Joseph Monteleone to arrange $105 million for The Village at Cumberland Park, a 649,600-square-foot Class A regional shopping center.

The borrower, a partnership led by The Retail Connection, New York, received a 36-month floating-rate loan from Bank of America, Charlotte, N.C.

The Village at Cumberland Park includes 14 buildings leased to tenants including Bed Bath & Beyond, Nike, Bath & Body Works and T.J.Maxx. Construction began in 2014 with one small phase left to deliver later this year that will take the center to more than 700,000 square feet, making it one of the largest shopping centers in north Texas.

HFF also closed a $56.3 million refinancing for the Baltimore Washington Logistics Center, a two-building Class A industrial complex totaling just over one million square feet in Jessup, Md. Senior Director Daniel McIntyre, Senior Managing Director Fred Wittmann and Managing Director Greg LaBine represented a joint venture between AEW Capital Management L.P., Boston, and Manekin LLC, Columbia, Md. Citizens Bank, Providence, R.I., supplied the financing. 

Located at 7600 and 7540 Assateague Drive in the Baltimore-Washington corridor., the Baltimore Washington Logistics Center has access to U.S. Route 1, U.S. Interstate 95 and the Baltimore-Washington Parkway and is close to BWI Thurgood Marshall Airport. Building I at 7600 Assateague Drive is a vacant warehouse/distribution building totaling 853,500 square feet. Building II is a 160,250-square-foot refrigerated warehouse/distribution building fully leased to food service distributor G Cefalu & Bro.