HFF senior managing director Barry Brown, (top right photo) managing director Ryan Shore (top left photo) and director Jim Hamilton (middle right photo) led the investment sales team on behalf of the seller, Bayer Properties.
The property was purchased by ING Clarion Partners on behalf of an institutional investor for an undisclosed amount free and clear of debt. Bayer Properties will continue to manage and lease Cahaba Village.Cahaba Village is located at 2800-3100 Cahaba Village Plaza in Mountain Brook about 5.5 miles from downtown Birmingham.
This location along US 280 has a daily traffic count of more than 80,000 cars per day.
Completed in 2007, the property is 98% leased to tenants including Whole Foods, Charles Schwab, FedEx Office, LensCrafters, Diamonds Direct and Mountain High Outfitters.
“Cahaba Village is home to the only Whole Foods in all of Alabama, making the center a consumer-preferred retail destination in the area,” said Brown. “As a result, while the national retail industry experienced negative sales results in 2009, Cahaba Village was able to generate a positive sales increase.”Bayer Properties, founded in 1983, is a full-service real estate company headquartered in Birmingham, Alabama. Bayer is a pioneer in the development of regional shopping destinations, and is well recognized in the industry for The Summit, Bayer’s brand of lifestyle center.
Founded in 1982, ING Clarion Partners and its affiliates manage $42 billion in assets in the private and public equity sectors of the real estate markets. More information about the firm is available at http://www.ingclarion.com/.
Contacts:
Barry M. Brown, HFF Senior Managing Director, (214) 265-0880, bbrown@hfflp.com
Ryan N. Shore, HFF Managing Director, (214) 265-0880, rshore@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,
krmurphy@hfflp.com
HFF arranges $26M refinancing for 212,225 SF office complex in San Ramon, CA
SAN FRANCISCO, CA – The San Francisco office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $26 million refinancing for Sunset Business Park (middle left photo), a 212,225-square-foot, two-building, office and research and development complex in San Ramon, California.Working exclusively on behalf of Nearon Sunset, LLC, HFF managing director Peter Smyslowski (middle right photo) placed the nine-year, fixed-rate loan with Unum Life Insurance Company of America. Loan proceeds are retiring an existing bridge and repositioning loan that was placed by HFF in 2007.
The property is fully leased to tenants including Pacific Gas and Electric Company, World Wide Parts, San Ramon Presbyterian Church and Bio Rad Laboratories.
“Unum, an HFF correspondent lender, executed flawlessly in what is still arguably a very challenging lending environment,” said Smyslowski.
Nearon Sunset, LCC is an affiliate of Nearon Enterprises, a privately-held real estate investment and development company headquartered in Danville, California.
Contacts:
Peter Smyslowski, HFF Managing Director, (415) 276-6300, psmyslowski@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,
krmurphy@hfflp.com
HFF arranges $4.8M refinancing for Walgreen’s-anchored retail center in Houston’s West University area
HFF associate director Colby Mueck (lower right photo) worked on behalf of New Tuscany Development, Ltd to secure the 15-year, fixed-rate loan through Nationwide Life Insurance Company. The financing retired a maturing CMBS loan.
The property was completed in 1998 and is fully leased to four tenants including Walgreen’s, MW Cleaners, Blockbuster and Smashburger.
“West University Corner has always benefited from its tremendous visibility as well as positioning at the edge of some of Houston’s most prominent neighborhoods,” said Mueck.
Contacts:
M. Colby Mueck, HFF Associate Director, (713) 852-3500, cmueck@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,
krmurphy@hfflp.com
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