MIAMI, FL - September 4, 2014 – HFF announced today that it has arranged $15.66 million in acquisition financing for Marketplace Square, a 173,292-square-foot Hobby Lobby-anchored retail center in Jensen Beach, Florida.
HFF worked on behalf of the borrower, Leon Capital, to secure the floating-rate loan through Prime Finance.
Marketplace Square is located on approximately 20.35 acres at the southeastern corner of US 1 and Jensen Beach Boulevard in the Port St. Lucie Metropolitan Area of Jensen Beach. The property is directly opposite Treasure Coast Square Mall, the only enclosed regional mall within 30 miles. Marketplace Square is leased to 20 tenants, including Hobby Lobby, Dollar Tree, and Bank of America.
The HFF team representing the borrower was led by senior managing director Travis Anderson, director Chris Drew and senior analysts Jose Carrazana and Cecily Nazario.
Through the second quarter of 2014, HFF’s debt placement team has secured more than $1.5 billion in loan placements for retail assets nationally. In Florida, HFF has closed more than $539 million in retail transactions across all capital markets platforms over the same period.
“Market conditions are extremely competitive and HFF continues to see significant demand from investors and lenders for quality assets in secondary markets throughout Florida,” Drew said.
Leon Capital Group acquires and develops real estate on behalf of family offices and institutional investors seeking superior risk adjusted returns in a diversified real estate investment portfolio. The company has made 82 investments in the four years following the financial crisis. Leon Capital and its affiliates oversee assets with a total capitalization of more than $2 billion. Their investment disciplines encompass four principal lines: bridge lending, multi-family value-add acquisition and new development, retail net lease and shopping center acquisition and development and special situations including land, distressed debt, Joint Venture Equity and recapitalizations.
Prime Finance is a private commercial real estate finance company with discretionary capital which directly originates mortgage, mezzanine and preferred equity financing and also acquires performing, sub-performing and distressed debt. They offer a variety of non-recourse loans above $10 million on office, retail, hotel, industrial, multifamily, mobile home, self-storage and mixed use properties in all markets around the United States.
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. For more information please visit hfflp.com or follow HFF on Twitter at twitter.com/hff.