HFF closes $103m sale and $70.7m financing of 427,000 s/f retail center

The New York office of Holliday Fenoglio Fowler, L.P. (HFF) closed the sale of and financing for Roosevelt Raceway Center, a 427,000 s/f retail power center. HFF senior managing director Glenn Whitmore and managing director Robert Delitsky represented the buyer, The Mattone Group and Gartenstein Properties in the $103 million purchase of the property from ING Clarion Partners, LLC. HFF also arranged the $70.7 million fixed-rate acquisition loan with New York Community Bank. The center is located along Corporate Dr.  Completed in 1995, the property is currently 100% leased to tenants including Home Depot, Home Depot Expo, Michael's, Babies 'R' Us, Sprint, Loew's Theatre, Applebee's and Chili's.