Pariser and Newman of Holliday Fenoglio Fowler arrange $44 million

According to Holliday Fenoglio Fowler, L.P., (HFF) it has arranged a $44 million refinancing for the retail condominium at 599 Broadway in the SoHo neighborhood. HFF managing director Evan Pariser and senior real estate analyst Todd Newman worked exclusively on behalf of the borrower, ABC Management Corp., to secure the 10-year, fixed-rate loan with Prima Capital Advisors. 599 Broadway is located at the intersection of Broadway and Houston Street in SoHo's Cast Iron Historic District. The retail condominium includes the first three floors and lower level retail space of the 12-story property. An entity controlled by Jeff Sutton is the master tenant for the retail condominium and American Eagle subleases the ground, second floor and lower level spaces through a 15-year lease. American Eagle is scheduled to open this flagship SoHo store in November 2010. "This transaction represents the skillful culmination of a long-term repositioning of 599 Broadway by David R. Topping, the principal partner of ABC Management Corp. The creative ownership structure utilizing a joint venture master lease led by the talented Jeff Sutton has maximized the retail potential of what is arguably the best retail location in SoHo," said Pariser. In a second transaction, The New York and Pittsburgh offices of HFF collaborated to arrange a $36.5 million refinancing for four self storage properties totaling 4,981 units in Queens and the Bronx. HFF director Steven Klein, managing director Claudia Steeb and executive managing director and managing member John Pelusi, Jr. worked exclusively on behalf of the borrower, Storage Deluxe, to secure the 10-year, fixed-rate loan through a national bank. The portfolio consists of 257,884 net rentable s/f of self storage space that is approximately 90% occupied. Two properties in the portfolio are located in Long Island City, Queens (39-25 21st St. and 38-01 47th Ave.) and two properties are located in Crotona Park East, Bronx (1810 Southern Blvd. and 1816 Boston Rd.). "Each property is located within highly dense urban infill residential areas with limited supply of self storage properties," said Klein. Founded in 1977, ABC Management Corp. is a real estate investment and management company headquartered in New York. ABC owns numerous commercial properties in the New York metropolitan area and nationally including residential apartment buildings, shopping centers, office buildings and warehouses. Prima Capital is an investment advisory firm specializing in whole loans, investment grade CMBS and REIT bonds and commercial mortgage 'B' notes. With approximately $2 billion under management Prima Capital's investments are made on a fully discretionary basis for a number of public and corporate pension funds. Storage Deluxe is a real estate company specializing in the acquisition, development and management of self-storage properties. The company owns, has interests in, and manages twenty-nine facilities containing over three million s/f of storage space. HFF operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales and commercial loan servicing.