HFF Leads $35M Sale of St. Louis Shopping Center
HFF also lined up $23.1 million in acquisition financing on behalf of the new owners.
By Evelina Croitoru
Lincoln Place
St. Louis—HFF has closed on the $35.4 million sale of and arranged $23.1 million in acquisition financing for Lincoln Place, a retail center located in Fairview Heights, Ill. HFF represented the seller, Spirit Realty Capital, which sold the asset to Acadia Strategic Opportunity Fund IV.
Located at 5905-6109 N. Illinois St., on 17 acres, the 272,060-square-foot shopping center is 14 miles east of downtown St. Louis. At the time of the deal, the asset was at almost 100 percent occupancy, with a tenant mix including Kohl’s, Ross Dress for Less, Old Navy, Marshalls, Famous Footwear and Five Below. Lincoln Place was completed in 1999, and refurbished in 2005.
Directors Amy Sands and Clinton Mitchell led the HFF investment sales team representing the seller. Managing Director Timothy Joyce led the HFF debt placement team on behalf of the new owners, arranging the five-year, fixed-rate acquisition loan with a national bank.
Image via Google Maps
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