News: Brokerage

Tepedino and Klein of HFF finance $47 million for the 640,000 s/f Cortland Towne Center

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.
MORE FROM Brokerage

NYSCAR June 2026 president’s message - by Mercedes Brien

As I write this letter, we are preparing to be at the Annual Conference being held at the Rivers Casino, Schenectady, New York. I look forward to reporting on the conference in my next letter. We have some great courses coming up via Zoom. Please be sure to keep watch on upcoming courses by visiting nyscar.org/resources and tools/professional development.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,