Holliday Fenoglio Fowler obtains financing package for multistate mall construction project

Holliday Fenoglio Fowler LP (HFF), a Pittsburgh-based business, recently announced that it has secured $308.4 million in financing for the creation of shopping malls in three different states, comprising 2.3 million square feet in total.

HFF acted in the interests of a brand-new joint venture partnership between four entities — Centennial Real Estate Company, Montgomery Street Partners/Blum Capital (MSP), USAA Real Estate Company (USAA RealCo) and Westfield America — to secure three five-year loans totaling $308.4 million.

The projects, which will be constructed in New England, the Midwest and Pacific Northwest, will be funded primarily by J.P. Morgan Chase Bank and participant lenders Aareal Capital Corporation and CIT Bank. Locations include Connecticut Post Mall in Milford, Connecticut; Hawthorn Mall in Vernon Hills, Illinois; and Vancouver Mall in Vancouver, Washington.

Led by managing director Claudia Steeb, director Jim Curtin and senior managing director Barry Brown, HFF’s team played a key role in transferring existing financing for two additional properties owned by the joint venture: Fox Valley Mall in Aurora, Illinois, and MainPlace Mall in Santa Ana, California. All five projects are large malls located in densely populated areas.

“HFF is pleased to have worked with such tremendous people and firms in putting the debt together for this complex and unusual transaction,” Steeb said.

HFF maintains 22 offices across the U.S., providing commercial real estate and capital market opportunities to the national real estate industry, from office and industrial to multi-family, retail and hotel properties, and investments.

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Holliday Fenoglio Fowler, L.P. (HFF) 301 Grant St Pittsburgh, PA 15219

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