HFF Announces 16 Financings Totaling $663M Secured by Class A Retail Properties in New York and New Jersey

Holliday Fenoglio Fowler, L.P. (HFF) announces 16 financings totaling $663 million secured by 15 Class A retail properties and one industrial property totaling 4.6 million square feet in New York and New Jersey.

The HFF team worked on behalf of the borrower, Urban Edge Properties, to secure the 16 separate loans with two CMBS lenders, three life company lenders and one bank. The loans include 14 fixed- and two floating-rate facilities with terms ranging from seven to 13 years. Loan proceeds will be used to pay off existing CMBS debt and create additional proceeds, while staggering and lengthening the duration of the borrower’s maturity schedule.

The portfolio comprises 98.1-percent-leased retail centers anchored by grocery stores, including ShopRite, Stop & Shop and Aldi; Home Depot; Lowe’s; Costco; BJ’s Wholesale Club and Walmart in addition to one multi-tenant warehouse property in East Hanover, New Jersey. The 16 properties are in dense submarkets with affluent demographics, including15 located in New Jersey and one in New York.

The HFF debt placement team representing the borrower included managing director Scott Aiese and senior managing directors Jon Mikula and Mike Tepedino.

“This retail financing proves that the capital markets remain highly liquid for assets in dense markets operated by best-in-class sponsorship,” Aiese said. “As lenders remain focused on diversifying their portfolios by asset type and geography, HFF experienced significant interest in the 15 retail term loan opportunities.”

HFF and Holliday GP Corp. are licensed New Jersey real estate brokers.

About Urban Edge Properties

Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 90 properties totaling 16.7 million square feet of gross leasable area.

About HFF

HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

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