According to The Hampshire Companies, a full service, private real estate investment firm with equity in assets valued at over $2 billion, has acquired Hudson Valley Plaza, a two-tiered 673,379-s/f retail property located at 401 Frank Sottile Blvd. from Pyramid Property Group.
Chris Phaneuf, senior vice president of Eastdil Secured, represented both the seller and Hampshire in the transaction.
Holliday Fenoglio Fowler, L.P. (HFF) arranged $32 million in financing. HFF worked on behalf of HUH US Real Estate Income REIT, Inc., an affiliate of The Hampshire Cos., to secure the seven-year, fixed-rate loan through an unnamed life insurance company. Loan proceeds were used to acquire the property. HFF will also service the loan.
The HFF team representing The Hampshire Cos. was led by senior managing director Jon Mikula and director Michael Klein.
"Speed was critical on this assignment and the lender was able to close from start to finish in 34 business days," said Mikula.
Adjacent to the Hudson Valley Mall, Hudson Valley Plaza is situated on more than 43 acres at the junction of Route 209 and 9W. Hudson Valley Plaza is anchored by major retail tenants including Wal-Mart Supercenter, Lowe's Home Improvement Warehouse and Sam's Club. At 98% leased, the plaza's additional tenants include Michael's Arts and Crafts, Petsmart, Gander Mountain, and Toys 'R" Us.
"With three strong-credit, national tenants anchoring the space and providing a loyal customer base, this was an excellent opportunity to expand our retail portfolio," said Rob Schmitt, a principal of The Hampshire Cos. "In addition to the plaza's high occupancy rate, the property's premier location in a highly traveled, densely populated area added additional benefit."
Chris Phaneuf, senior vice president of Eastdil Secured, represented the seller and Hampshire in the transaction.

The Hampshire Companies is a full-service, private real estate investment firm based in Morristown, N.J. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Tags: