The New York office of Holliday Fenoglio Fowler, L.P. (HFF) secured $47 million in financing for Cortlandt Towne Center, a 640,000 s/f, regional shopping center in northwestern Westchester County.
Working exclusively on behalf of Acadia Realty Trust, HFF senior managing director Mike Tepedino and director Steven Klein arranged the three-year, adjustable-rate loan with Bank of America.
Cortlandt Towne Center is located at 3131 East Main St. located on U.S. Rte. 6. The property's major tenants include Wal-Mart, A&P Food Market, Barnes & Noble, Best Buy and PetSmart. The site is shadow-anchored by a 133,243 s/f Home Depot.
"Being the dominant shopping center with limited competition of critical mass in northwestern Westchester County made this asset attractive to investors," said Tepedino.
Acacia Realty Trust currently owns, or has ownership interests in, and operates 77 properties totaling in excess of 10 million s/f located primarily in the northeast, mid-Atlantic and midwest U.S.
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, structured finance, private equity, loan sales and commercial loan servicing. Tags: