Retail
HFF Sells First Mortgage Loan on 270,069 SF Village at Camp Bowie
Situated on a 19-acre site on the north and south sides of Camp Bowie Boulevard, the property is 76 percent leased to tenants including Frost Bank, Starbucks, Spring, Edward Jones and State Farm. It underwent extensive renovations from 2004 to 2007.
Cole Acquires Texas Shopping Center for $56.5M
Built in 2006, Atascocita Commons is 98.5 percent leased to a mix of national and regional retail tenants, including Kohl’s and TJ Maxx/HomeGoods. It is located 12 miles east of George Bush Intercontinental Airport and 25 miles northeast of Houston’s central business district.
Thor Plans $200M Upgrade of Former Takashimaya Building in NYC
Thor will now embark on a $200 million upgrade of the building. The upgrade includes a transformation of the first eight floors to all retail space and the near-doubling of the 3,500 square feet of retail on the ground floor. The building’s existing granite façade will also be replaced with glass. Floors nine through 20 will not be involved in the renovation.
Sam Zell’s Equity International Pockets $245M on Sale of Brazil-Based BR Malls Shares
The sale, which accounted for nearly 9 percent of BR Malls’ capital stock, is no indication of Equity’s feelings about Brazilian retail. The investment firm remains keen on the market and retains a 6 percent ownership interest in BR Malls, Brazil’s largest retail real estate concern.
General Growth Requests Extension on on Bankruptcy Plan Filing
Currently the exclusivity period to file the plan and its accompanying disclosure statement is scheduled to expire on July 15.
CBRE Sells Hawaiian Mall for $27.5M
The retail center consists of 11 buildings housing 43 tenants in 170,275 square feet of retail space, with major tenants including Longs Drugs and City Mill. It is located on a 15.62-acre lot.
As Retail Market Thrives, Landmark Toronto Shopping Center Preps for $120M Makeover
Spanning two city blocks downtown, the 33-year-old Eaton Centre is, and has long been, one of the top premier urban shopping centers in Canada.
JV’s $116M Investment Buys 48 Percent Stake in $1.5B Macquarie DDR Trust
EPN’s investment, which will make it Macquarie DDR’s largest unitholder, will be utilized to pay down outstanding Macquarie DDR financial obligations, including unsecured debt and derivative liabilities, and bolster the balance sheet; the move is expected to decrease leverage from 73.2 percent to 64.4 percent.
Forest City Closes Permanent Financing on $214M Loan
In addition, the existing $40 million credit enhancement in tax-exempt Empowerment Zone bonds has also been extended to the 2019 maturity date. In addition to conventional bank financing, financing was also provided by the State of New York, New York City and the Upper Manhattan Empowerment Zone.
Inland Real Estate Partners with Dutch Pension Fund on $270M Shopping Center JV
The joint venture will kick off with PGGM’s infusion of $20 million of equity and Inland’s contribution of three retail properties valued at an aggregate $45 million.