HFF recently announced that it has arranged $23.8 million in acquisition financing for a seven-property retail portfolio totaling 99,675 square feet in Maryland, New Jersey and Pennsylvania.
Working exclusively on behalf of an affiliate of Lakewood-based Paramount Realty Services, Inc., HFF secured the seven-year, fixed- rate loan through Investors Bank.
The properties included in the financing are: Bricktown Center in Bricktown, New Jersey; Brookhaven Plaza in Brookhaven, Pennsylvania; Howell Plaza in Howell, New Jersey; Sea Girt Plaza in Wall, New Jersey; Philadelphia Plaza in Philadelphia, Pennsylvania; Exton Plaza in Exton, Pennsylvania and Owings Mills Plaza in Owings Mills, Maryland. The portfolio was 100 percent occupied at closing by tenants including Best Buy, Staples, three full-service WAWA Convenience stores, JoS. A. Bank, CVS and Santander Bank.
The HFF team representing the buyer was led by senior managing director Jon Mikula and managing director Jim Cadranell.
Paramount Realty Services, Inc. was founded in 1994 as a full-service commercial real estate firm specializing in retail real estate in the Northeast. Paramount Realty owns and operates more than five million square feet of shopping centers throughout New Jersey, Connecticut, Massachusetts, Maryland and eastern Pennsylvania.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing.