Sunday, October 24, 2010

HFF secures $48.5 million refinancing for Port Charlotte Town Center in Port Charlotte, FL

 MIAMI, FL – The Miami and Pittsburgh offices of HFF (Holliday Fenoglio Fowler, L.P.) have secured $48.5 million in permanent first mortgage financing for Port Charlotte Town Center (top left photo), a regional mall in Port Charlotte, Florida.

HFF executive managing director Manny de Zárraga, director Luis Castillo (middle right photo) and managing director Danny Finkle (lower left photo), in conjunction with managing director Claudia Steeb and executive managing director and managing member, John Pelusi, Jr. of the Pittsburgh office of HFF, worked exclusively on behalf of Simon Property Group. 

The HFF team secured the 10-year, fixed-rate loan through RBS Securities, Inc., which replaced a maturing facility on the property.

Port Charlotte Town Center is anchored by Dillard’s, JCPenney, Macy’s, Sears, Bealls and a high-volume, 16-screen Regal Cinema. 

 National tenants at the property include Old Navy, DSW, Charlotte Russe and Victoria’s Secret, among others.  The property is located at 1441 Tamiami Trail (US 41) in an established commercial and residential area.

“Port Charlotte Town Center is the dominant enclosed retail mall in the market with no direct competition within 30 miles,” said Castillo.  “The mall benefits from an extended trade area and receives more than 8.4 million visitors annually.”

 Simon Property Group, Inc. is an S&P 500 company and the largest real estate company in the U.S. 

 The company currently owns or has an interest in more than 393 properties comprising in excess of 263 million square feet of gross leasable area in North America, Europe and Asia.

Luis Castillo, HFF Director, (305) 448-1333,
 Kristen Murphy, HFF Associate Director, Marketing, 713-852-3500,

No comments: