ATLANTA, GA - June 30, 2014 – HFF announced today that it has closed the sale of and arranged financing for Lilburn Corners, a 105,161-square-foot, grocery-anchored retail center in Lilburn, Georgia.
HFF represented the seller, Philips Edison & Company, in the sale of the property to BDB Realty LLC. BDB purchased the asset for $11.2 million and obtained acquisition financing through Jefferies LoanCore, which was also arranged by HFF. The $8.6 million securitized loan has a 10-year term and a fixed-rate for the duration of the loan.
Lilburn Corners is located at 375 Rockbridge Road NW at the confluence of Lawrenceville Highway (U.S. 29) and Rockbridge Road in the northeast area of the Atlanta MSA. The property is 92.4 percent leased and is anchored by Publix. Additional tenants include H&R Block, The UPS Store, Snap Fitness and Marco’s Pizza.
The HFF investment sales team representing the seller was led by managing directors Jim Hamilton and Richard Reid.
HFF’s debt placement team was led by director Chip Sykes.
Phillips Edison & Company is a fully integrated retail real estate company with a portfolio of more than 31 million square feet of shopping centers across the country. Since 1991, the firm’s primary mission has been to purchase under-performing, grocery-anchored properties and maximize their value through hands-on leasing, management and redevelopment. Their portfolio now includes more than 260 properties that meet the everyday shopping needs of communities from coast to coast.
JLC (Jefferies LoanCore) is a full-service commercial real estate finance company focused on the origination of first mortgage loans, mezzanine loans and other commercial real estate-related debt products. JLC provides leverage to borrowers seeking to acquire or refinance well-located, quality commercial properties in major U.S. markets. Compared to traditional debt providers, JLC's flexible capital structure allows it to provide one stop shopping for borrowers seeking higher leverage levels in both fixed and floating rate structures. Since inception, JLC has originated more than $4 billion of commercial real estate debt. www.jlcre.com.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 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.